January 2022
Serbia revokes Rio Tinto's licences - $2.4 BILLION investment gone.
Friday, 21 January 2022
BELGRADE, Jan 20 (Reuters) - Serbia revoked Rio Tinto's (RIO.L) lithium exploration licences on Thursday, bowing to protesters who opposed the development of the project by the Anglo-Australian mining giant on environmental grounds.
Serbian Prime Minister Ana Brnabic said the government's decision came after requests by various green groups to halt the$2.4 billion Jadar lithium project which, if completed, would help make Rio a top 10 lithium producer.
"All decisions (linked to the lithium project) and all licences have been annulled," Brnabic told reporters after a government session. "As far as project Jadar is concerned, this is an end."
Earlier this week, Rio had pushed back the timeline for first production from Jadar by one year to 2027, citing delays in key approvals. read more
Rio Tinto said it was "extremely concerned" by Serbia's decision and was reviewing the legal basis for it.
The company committed to the project just last year, as global miners pushed into the metals needed for the green energy transition, including lithium, which is used to make electric vehicle batteries.
The mine was slated to produce enough lithium to power 1 million electric vehicles, in addition to boric acid, used in ceramics and batteries, and sodium sulphate, used in detergents. At full capacity, the mine was expected to produce 58,000 tonnes of refined battery-grade lithium carbonate per year, making it Europe's biggest lithium mine by output.
ENDS
This is a very very very big deal for Rio Tinto - $2.4 Billion worth.
https://www.riotinto.com/en/operations/projects/jadar
A lithium-boron deposit with the potential to make Serbia a major global producer.
Jadar is named after jadarite, a lithium sodium borosilicate mineral we discovered in Serbia in 2004, near the city of Loznica in western Serbia.
The Jadar project in Serbia is one of the largest greenfield lithium projects in the world. Jadar will produce battery-grade lithium carbonate, a critical mineral used in large scale batteries for electric vehicles and storing renewable energy. In addition, Jadar will produce borates, which are needed for the development of renewable energy equipment such as solar panels and wind turbines.
The scale and high-grade nature of the Jadar mineralisation will ensure a long-life operation in the first quartile of operating costs for both products.
The proposed development will include an underground mine with associated infrastructure and equipment, including electric haul trucks, as well as a beneficiation chemical processing plant to produce battery-grade lithium carbonate.
First saleable production from the mine is expected no earlier than 2027 and, following ramp up to full production, the mine will produce annually ~58,000 tonnes of lithium carbonate, 160,000 tonnes of boric acid (B2O3 units) and 255,000 tonnes of sodium sulphate1, making Rio Tinto one of the top ten lithium producers in the world. Based on this annual production of lithium carbonate, Rio Tinto aims that, over the expected 40-year life of mine, the operation will produce 2.3 million tonnes of lithium carbonate.
1 These production targets were previously reported in a release to the Australian Securities Exchange (ASX) dated 10 December 2020, “Rio Tinto declares maiden Ore Reserve at Jadar” (for battery-grade lithium carbonate it was 55,000 tonnes). All material assumptions underpinning the production targets continue to apply and have not materially changed.
What’s next
In July 2021, we committed $2.4 billion to the Jadar lithium-borates project in Serbia. The project remains subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society. The next steps for the project are seeking an Exploitation Field Licence and receipt of regulatory approvals. This includes approval of the environmental impact assessment (EIA) studies, which will be made available to the public for comment. Based on current estimates and subject to receiving all relevant approvals, permits and licences, first saleable production is expected to be no earlier than 2027.
We are now focused on completing the detailed engineering, land acquisition, workforce and supply preparation for construction, permitting and early infrastructure development. At the same time, we continue to collaborate with leading Serbian and international experts in mining, processing, engineering and design, communities and environment to deepen our understanding of the project.
The investment commitment builds on progress including:
- In February, we completed the detailed geological exploration of the jadarite deposit.
- In July 2020, we approved an additional investment of almost US$200 million to progress the next stage of development, the Feasibility Study, which is expected to be completed at the end of 2021.
- In December 2020, we announced the maiden Ore Reserve and updated Mineral Resource at the project.
We recognise that in progressing this project, we must listen to and respect the views of all stakeholders. We are committed to upholding the highest environmental standards and building sustainable futures for the communities we operate in.
We are working hard to establish trusting and respectful relationships with Jadar communities, including landowners, the Government of the Republic of Serbia, and all other relevant stakeholders such as NGOs and civil society organisations. And we remain committed to optimising the economic and social benefits while minimising any negative impacts to the community and the environment."
ENDS
One well known vocal opponent.....
Roy Morgan calls it for Labor. Best news Morrison could hope for.
Thursday, 20 January 2022
Andrews the control freak
Thursday, 20 January 2022
New CBUS Board member Jason O'Mara
Thursday, 20 January 2022
Here's some of our history with Mr O'Mara.
Criminal racketeering charges laid against the CFMMEU and its ACT secretary
Thursday, 16 August 2018
Wonder how long these will stick?
Criminal cartel charges laid against CFMMEU and its ACT branch secretary
16 August 2018
Criminal charges have been laid against the Construction, Forestry, Maritime, Mining and Energy Union (CFMMEU) and its ACT Divisional Branch Secretary, Jason O’Mara, in relation to alleged cartel conduct.
“The CFMMEU and Mr O’Mara are each charged with attempting to induce suppliers of steelfixing services and scaffolding services to reach cartel contracts, arrangements or understandings containing cartel provisions in relation to services provided to builders in the ACT in 2012 to 2013,” ACCC Chair Rod Sims said.
“These charges follow a joint investigation between the ACCC and the Australian Federal Police (AFP) as part of the AFP’s role in coordinating and contributing to the Joint Police Task Force following the Royal Commission into Trade Union Governance and Corruption,” Mr Sims said.
The charges are being prosecuted by the Commonwealth Director of Public Prosecutions (CDPP).
The first mention of the charges before the ACT Magistrates Court is scheduled for 27 September 2018.
The Competition and Consumer Act requires any trial of such offences to proceed by way of indictment in the Federal Court of Australia or a state or territory Supreme Court.
The ACCC is unable to comment further as this is a criminal matter now before the Court.
Reporting conduct of concern in the construction industry
The ACCC has recently set up an anonymous reporting portal where members of the public can report and communicate anonymously with an ACCC investigator about anticompetitive practices in the construction sector. The portal can be accessed at www.accc.gov.au/CCUreports
Applications for cartel immunity can be made by calling the ACCC Immunity Hotline on (02) 9230 3894 or by emailing [email protected](link sends e-mail).
Notes to editors
Steelfixing services refer to the installation and fixing of reinforcement steel on building sites, including in concrete slabs. Scaffolding services include the erection and dismantling of scaffolding on building sites.
The ACCC investigates cartel conduct, manages the cartel immunity policy and process, takes civil proceedings in the Federal Court in respect of alleged cartel conduct, and refers serious cartel conduct to the CDPP for consideration for prosecution. The CDPP is responsible for prosecuting criminal cartel offences, in accordance with the Prosecution Policy of the Commonwealth.
More general information about cartel conduct is available at Cartels
ENDS
You may recall Mr O'Mara's appearance at the Trade Union Royal Commission.
Gettin' on it with the Tijuana Brass at Serbia's no-mask, no-dickhead, living-life trumpet festival!!!!
CDPP withdraws criminal charges against CFMEU & O'Mara 'because of the staleness of the offending'
Tuesday, 17 August 2021
“In this case, the decision to withdraw was made in the context of the extended period of time which has elapsed since the alleged conduct occurred, and the challenges that posed for witnesses’ memories of relevant events”.
The CFMEU and friends have a long and satisfying association with challenges posed to witnesses’ memories of relevant events.
17 August 2021
The Commonwealth Director of Public Prosecutions (CDPP) has today withdrawn criminal cartel charges against the Construction, Forestry, Maritime, Mining and Energy Union (CFMMEU) and its ACT Divisional Branch Secretary Mr Jason O’Mara.
The charges related to allegations that the CFMMEU and Mr O’Mara attempted to induce suppliers of scaffolding services to enter into cartel arrangements regarding prices for scaffolding services provided to builders in the ACT in 2012 to 2013.
This case was investigated by the ACCC and referred to the CDPP, who made the initial decision to commence this prosecution and the subsequent decision to discontinue, based at all times on an application of the Prosecution Policy of the Commonwealth.
“In this case, the decision to withdraw was made in the context of the extended period of time which has elapsed since the alleged conduct occurred, and the challenges that posed for witnesses’ memories of relevant events,” ACCC Chair Rod Sims said.
“While there can be challenges involved in bringing criminal cartel prosecutions, we will continue to place a high priority on deterring, detecting and dismantling cartels that can harm Australian consumers and businesses, and will continue to refer serious cartel conduct to the CDPP.”
The CDPP’s decision to withdraw the charges follows an earlier decision it made in February this year to withdraw similar charges against the CFMMEU and Mr O’Mara in relation to allegations involving steelfixing services.
The ACCC will not be making any further comment on this matter.
Background
The ACCC investigates cartel conduct, manages the immunity process, takes proceedings in the Federal Court in respect of civil cartel contraventions, and refers serious cartel conduct to the CDPP for consideration of prosecution.
The CDPP is responsible for prosecuting criminal cartel offences in accordance with the Prosecution Policy of the Commonwealth.
In August 2018, the CDPP laid criminal cartel charges against the CFMMEU and its ACT Division Branch Secretary, Jason O’Mara, for attempting to induce suppliers of scaffolding and steelfixing services to reach arrangements or understandings containing cartel provisions in relation to services provided to builders in the ACT in 2012 to 2013.
The allegations had earlier been aired before the Royal Commission into Trade Union and Governance and Corruption which reported in December 2015.
The criminal charges were brought by the CDPP after a joint investigation between the ACCC and the AFP as part of the AFP’s role in coordinating and contributing to the Joint Police Task Force following the Royal Commission into Trade Union Governance and Corruption.
Wayne Swan FI who sent Australia into irreversible debt, takes over 700,000 people's Super.
Thursday, 20 January 2022
The 'world's greatest Treasurer' (remember that?) Wayne Swan who's never had a job away from the political teat, has just got another job from the boys.
Swan is now in charge of CBUS super - about $70 billion dollars of other people's money.
Swan sent Australia into a debt spiral of hundreds of billions of dollars, after inheriting the Howard era's super low debt levels.
The Liberals under Turnbull and Morrison have since made it even worse.
If you're a CBUS Super member ... you are paying this 'over achiever' about $200k a year.
The good old boys always look out for the good old boys.
Australia 2022
Thursday, 20 January 2022
TGA provisionally approves new Covid vaccine - Novavax
Thursday, 20 January 2022
TGA provisionally approves Novavax (Biocelect Pty Ltd's) COVID-19 vaccine NUVAXOVID
20 January 2022
The Therapeutic Goods Administration (TGA) has granted provisional approval to Biocelect Pty Ltd (on behalf of Novavax Inc) for its COVID-19 vaccine, NUVAXOVID. This is the first protein COVID-19 vaccine to receive regulatory approval in Australia.
This protein vaccine is provisionally approved and included in the Australian Register of Therapeutic Goods (ARTG) for active immunisation to prevent COVID-19 in individuals 18 years of age and older. It is recommended that the vaccine is given in 2 doses administered 3 weeks apart.
NUVAXOVID is provisionally approved for primary vaccination only. Studies for use of NUVAXOVID as a booster dose and in paediatric patients are ongoing, so the vaccine does not have regulatory approval for these purposes at this stage. The TGA will review any future application from the Sponsor as a priority.
The Novavax vaccine has received conditional marketing authorisation by the European Medicines Agency, and the World Health Organisation has issued an emergency use listing for the vaccine.
NUVAXOVID is a protein subunit vaccine. Protein vaccines use a non-infectious component found on the surface of the coronavirus and are manufactured in cells in a laboratory. After vaccination, immune cells recognise the vaccine protein as foreign and launch an immune response against it.
Provisional approval of this vaccine in Australia is subject to certain strict conditions, such as the requirement for Biocelect Pty Ltd (on behalf of Novavax Inc) to continue providing information to the TGA on longer-term efficacy and safety from ongoing clinical trials and post-market assessment.
Novavax and the Australian government announced an advance purchase agreement for 51 million doses of Novavax's COVID-19 vaccine in January 2021. The first shipment to Australia of the Novavax vaccine is expected in the coming month.
Australians can be confident that the TGA's review process of NUVAXOVID was rigorous. The decision to provisionally approve the vaccine was also informed by expert advice from the Advisory Committee on Vaccines (ACV), an independent committee with expertise in scientific, medical and clinical fields including consumer representation.
Australia approves 2 Covid-19 anti-viral drugs
Thursday, 20 January 2022
The Australian Government welcomes the Therapeutic Goods Administration’s (TGA) provisional approval of the first oral treatments for COVID-19 in Australia, Lagevrio® (molnupiravir) and Paxlovid® (nirmatrelvir + ritonavir).
Lagevrio and Paxlovid are oral anti-viral treatments that have been found to be effective in treating people with mild to moderate COVID-19 who have a high risk of progressing to severe disease, reducing admissions to hospital and ICU and potential death.
The Government has secured access to 300,000 treatment courses of Merck Sharp & Dohme’s (MSD) Lagevrio® and 500,000 courses of Pfizer’s Paxlovid® for supply throughout the course of 2022, with the first deliveries of both medicines anticipated over the coming weeks.
These oral antiviral treatments need a prescription and are taken every 12 hours for five days. They are designed to interfere with the virus’ ability to multiply.
The clinical trials of these treatments show they reduce the risk of hospitalisation or death in patients with COVID-19 who are at high risk of progressing to severe disease.
Lagevrio and Paxlovid will supplement the existing National Medical Stockpile supplies of Xevudy (sotrovimab) and Veklury (remdesivir) and future supplies of Evusheld (tixagevimab with cilgavimab), the later pending a final TGA decision on registration.
Xevudy is an intravenous monoclonal antibody that can also be used to treat people with mild to moderate COVID-19 who have a high risk of progressing to severe disease. It has proven effective against the omicron variant with additional supply also secured for delivery over the coming months.
Veklury is being used for the clinical care of people with moderate to severe COVID-19 symptoms who have been admitted to hospital but do not require ventilation assistance in line with the recommendations of the National COVID-19 Clinical Evidence Taskforce.
As with other TGA approved COVID-19 treatments not everyone who contracts COVID-19 will require access to Lagevrio and Paxlovid and these treatments will be of most benefit for people most at risk of severe disease and through the oversight from a healthcare professional.
We are working to target access to those most vulnerable including the elderly and those in aged care through the National Medical Stockpile (NMS) with the view to transition to the Pharmaceutical Benefits Scheme (PBS) arrangements as supply continues to grow.
By law medicines can only be listed on the PBS following a positive recommendation from the Pharmaceutical Benefits Advisory Committee (PBAC).
Whilst vaccination remains the best protection against COVID-19 our Government continues work to ensure that Australians have early access to safe and effective treatments as they are approved for use by the medical experts. These agreements reinforce our strong response to managing COVID-19 outbreaks and ensures that Australia benefits from new pharmaceutical technologies.
As with all COVID-19 treatments, both of these medications have been rigorously assessed by the TGA for safety, quality and effectiveness before being provisionally registered for use in Australia.
The TGA is treating all COVID-19 treatment applications with the greatest priority as part of the Department of Health's response to the pandemic.