lsestocks
The Australian government has rejected Glencore’s (LSE:GLEN,OTC Pink:GLCNF) proposal to develop a carbon capture and storage (CCS) project in Queensland due to potential risks to groundwater resources. The decision halts the global commodities miner's plan to inject CO2 into underground aquifers to reduce emissions from a coal-fired power plant. The CO2 would have been stored 2.3 kilometers underground in the Surat Basin. Glencore's pilot project, managed by its subsidiary, Carbon Transport and Storage Company, aimed to capture 330,000 metric tons of liquefied CO2 annually from the Millmerran ...
Investing News Network
Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has implemented force majeure for alumina exports from its refineries in Queensland, Australia, due to prolonged disruptions in gas supply, according to media reports. The notice, which affects third-party alumina sales, is the company's response to ongoing limitations in gas availability due to damage to a Queensland pipeline; it was caused by fires, which led to restricted gas flow. The expected timeline for restoring full gas flow capacity has been extended to the latter half of 2024. Rio Tinto’s Yarwun refinery and Queensland Alumina will continue to op...
Investing News Network
Major diversified miner Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) weathered both operational challenges and a tragic loss to deliver a resilient performance in the first quarter of 2024. Despite grappling with the aftermath of a devastating plane crash that claimed six lives, including four Diavik diamond mine employees, the company has emerged with stable operational results. “We delivered stable operating results in the first quarter, including improvements at our bauxite and aluminum businesses, as we navigated seasonal challenges across our global operations. Our full year guidance is unchanged...
Investing News Network
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