According to the 7news, Toyota and Hyundai have signed a memorandum of understanding to work together alongside Ampol and Pacific Energy to develop hydrogen refuelling infrastructure in Australia.
The announcement came on the back of a solid week of messaging from Toyota around its multi-approach strategy to decarbonisation at the Tokyo motor show. The Japanese giant expects to head into the next decade and beyond with multiple bets across battery-electric vehicles, hydrogen, synthetic fuels as well as traditional internal-combustion engines. https://7news.com.au/motoring/toyota-hyundai-team-up-on-hydrogen-in-australia-c-12385004
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According to The Australian Financial Review, global giants ATCO and BOC Linde have been named preferred contractors to build a $593 million hydrogen plant and storage facility near Whyalla in South Australia, just 6km from billionaire Sanjeev Gupta’s Whyalla steelworks.
The two foreign players, which represent a larger consortium, were chosen from a field of 29 proposals for the plant, to be owned by SA taxpayers and operating by early 2026. Canada’s ATCO has a large Australian business, while European industrial gas and engineering group BOC Linde is part of the $US179 billion ($283 billion) Linde Group. They are the preferred contractors to build a 250-megawatt hydrogen production facility, 200-megawatt hydrogen power plant and a hydrogen storage facility. https://www.afr.com/companies/energy/atco-and-boc-linde-win-593m-sa-hydrogen-job-forrest-misses-out-20231022-p5ee2d
According to The Australian Financial Review, Rio iron ore boss Simon Trott said that it was willing to work with POSCO and others on green iron production in the Pilbara.
POSCO is studying the feasibility of using green hydrogen to power a hot briquette iron plant near Port Hedland, with a proposal for the multi-billion dollar project before WA’s environmental watchdog. “POSCO is obviously a customer of Rio’s and this is an industry-wide challenge,” Mr Trott said. “We are doing some works with POSCO already and if there’s an opportunity that meets our needs and meet their needs, we’re absolutely open-minded to that.” https://www.afr.com/companies/mining/rio-opens-door-to-working-with-posco-on-green-iron-plant-in-pilbara-20231018-p5edd6
According to The Australian Financial Review, Australian coal export sales will fall faster than expected because higher volumes over the next two years will not be enough to offset a 46 per cent collapse in shipment values, official forecasts show.
The value of thermal coal exports is expected to fall from $66 billion to $28 billion in the 12 months to the end of June 2025, almost 7 per cent below previous forecasts. Metallurgical coal will fall from $62 billion to $41 billion in that time. Economists at the Department of Industry, Science and Resources earlier this year predicted that the value of commodity exports would slump over the next two years, as weaker demand brought prices down. Those forecasts have been tempered slightly in their latest analysis, with solid growth in export volumes delivering more than was expected just three months ago. The value of Australian commodity exports in 2025 is now projected to be $352 billion, up from the June prediction of $344 billion. https://www.afr.com/companies/mining/coal-export-values-slide-faster-than-expected-but-volumes-to-rise-20231001-p5e8xp
According to The Australian Financial Review, Federal Resources Minister Madeleine King says Australia will remain a reliable exporter of gas to Japan, amid LNG supply concerns as Australia transitions to net zero by 2050.
After the former head of one of Japan’s biggest energy companies warned any disruption to the supply of LNG would have a “huge impact” on millions of customers, Ms King moved to reassure one of the country’s most important trade partners it was business as usual. “Japanese investment helped build the Australian resources sector that has made our country so strong,” a spokesman for Ms King said on Friday. “This relationship is not only crucial to the economic health of our nation, but to millions of people throughout Asia who rely on Australian resources to build their cities, heat their homes and help produce their food. Australia is a reliable supplier of energy to Japan and always will be.” https://www.afr.com/companies/energy/australia-will-always-be-reliable-supplier-of-gas-to-japan-20231006-p5eadq
According to The Australian Financial Review, BHP boss Mike Henry says the private sector must turn recycling into a meaningful source of metals for the world, in a possible signal that BHP could join other big miners in the scrap recycling business.
Speaking just two months after Rio Tinto announced plans to spend close to $1 billion growing its footprint in the aluminium recycling industry, Mr Henry told an International Energy Agency summit in Paris on Thursday that “there is an opportunity and need for continued lifting of the rates of recycling”. https://www.afr.com/companies/mining/recycling-is-a-must-for-the-mining-industry-bhp-boss-says-20230928-p5e8gi
According to The Australian Financial Review, Orica CEO Sanjeev Gandhi has singled out Japanese and Korean power utilities as the earliest export customers for green ammonia from the company’s planned hydrogen hub near Newcastle, which is expected to get its final go-ahead before June 30, 2024.
Speaking after Orica announced an acceleration and expansion of its emissions reduction targets, Mr Gandhi said he expects the first molecules of green hydrogen to be produced at the 50-megawatt plant in 2026. While Orica would only then start commercial negotiations with potential export customers, he said preliminary discussions with power utilities in Japan and South Korea clearly showed demand as utilities aim to start co-firing green ammonia with fossil fuels in power plants. https://www.afr.com/companies/energy/orica-aims-higher-on-emission-reduction-goals-20230918-p5e5qo
According to The Australian Financial Review, Federal Energy Minister Chris Bowen says electric planes will be in the skies and a green hydrogen industry will be up and running by the end of the decade, as Australia charts its course to net zero carbon emissions by 2050.
Amid scepticism from some energy experts about whether Australia can meet its 2030 climate targets, Mr Bowen admitted it would be a “challenge” to achieve 43 per cent emissions reduction over the next seven years. Mr Bowen said he was confident green hydrogen would be a viable option by 2030. “The economics of green hydrogen are very promising. It’s only 2023, but we are talking about creating a new industry from scratch. https://www.afr.com/companies/energy/electric-planes-and-green-hydrogen-within-a-decade-bowen-says-20230915-p5e4xi
According to The Australian Financial Review, it’s by no means a lay-down misère for telco behemoth Telstra as it prepares to submit a binding offer for Versent, the cybersecurity play on the market via Goldman Sachs.
Street Talk can reveal Japan’s NTT, one of the world’s largest telecoms groups, is through to the second round of the auction and has engaged local investment bank Jefferies for help with diligence, funding and deal structure. NTT, which has more than 330,000 employees in over 80 countries, shapes as a major obstacle to Telstra in its bid to become a full -service cybersecurity and technology player. The Japanese group makes $108 billion in revenue; services more than 75 of the Fortune Global 100 clients; and is one of the five biggest global IT services providers. https://www.afr.com/street-talk/meet-telstra-s-advisory-line-up-for-versent-tilt-20230910-p5e3i9
According to The Australian Financial Review, Fortescue Metals executive chairman Andrew Forrest says he will accept the first generation of clean energy projects having lower rates of return than alternative growth options in the iron ore division, as mining boss Fiona Hick added to the extraordinary turnover of executives at the company.
Fortescue has pledged to take a final investment decision on five clean energy projects before the end of December, and the company axed a 30-month-old policy that sought to limit spending within the clean energy division to 10 per cent of earnings generated by the iron ore division. The axing of the policy came as spending on clean energy is expected to exceed 10 per cent of iron ore earnings this year. https://www.afr.com/companies/mining/forrest-flags-lower-returns-for-green-projects-as-mining-boss-exits-20230828-p5e03v |
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