TAS Discussion 2022

[zeeb0t]

Are you invested in TAS? If so, what are the highlights and lowlights from your perspective?

 

[Moosey]

Yes, I have an investment in TAS, FMG have a farm in agreement with them, they are looking at the Vulcan deposits which are just 50K from Olympic Dam in the Gaw;er Craton area, FMG are still drilling, if they find another monster like OD, then I think we may be on the money, they also own over 30% of EDE and they also own a reasonable parcel of Conico, who are in the early days of drilling in Greenland on virgin territory that shows some good signs, it is a spec and so is TAS, but no one knows what can happen but FMG in there makes me more comfortable.

 

[Moosey]

https://www.pm.gov.au/media/investment-unlock-potential-australias-critical-minerals-sector

Media release
16 Mar 2022

Prime Minister, Minister for Resources and Water
As part of our plan for a stronger future, the Coalition Government is delivering on its commitment to support the growth of Australia’s critical minerals sector, announcing a package of measures to help unlock the industry’s significant potential.
The measures, which are part of the 2022-23 Budget, include a $200 million Accelerator grants program, $50 million to support research and development and an updated industry strategy.
Prime Minister Scott Morrison said Australia’s resources companies were leading the world in developing new critical minerals markets.
“The world is becoming a more uncertain place and we want to secure Australia as a reliable partner for local and global businesses that need the critical minerals we have right here,” the Prime Minister said.
“We’ll dig them up right here. We’ll refine them right here. We’ll look to make the products that use them right here.
“These suite of initiatives are about backing our home grown resources industry just like Liberals and Nationals always have.
“As the global economy changes, there are exciting new growth opportunities emerging in areas such as rare earths and critical minerals that ultimately mean we can deliver a stronger economy for Australia and secure a stronger future.
“Critical minerals are used in more and more essential products. That means there are huge opportunities to backing the Australian critical minerals with programs like these, to be a partner whose products are high quality and consistent. A partner people can trust to deliver.”
Minister for Resources and Water Keith Pitt said the Accelerator initiative will provide grants to strategically significant critical minerals projects at the early to mid-stage to fast-track them to market.
“By backing these important projects, we are also driving private sector investment to enhance Australia’s strong international reputation as a reliable supplier of the resources the world needs,” Minister Pitt said.
Minister Pitt said the 2022 Critical Minerals Strategy, launched today, sets out to grow our critical minerals sector, expand downstream processing and help meet future global demand.
“The Strategy will cement Australia’s position as a leading producer of critical minerals, while contributing to our national security and economic prosperity,” Minister Pitt said.
“Developing and diversifying our resources sector strengthens our national economy, delivering jobs and growth opportunities, especially in regional Australia.
“While the Greens openly talk about partnering with Labor to destroy Australia’s resources sector, the Government strongly supports the industry and today’s announcement builds on our strong record of delivery.
“A strong economy means a strong future for Australia, and resources are a significant contributor to that.
“Our resources and energy exports hit a record high value of $348.9 billion, and are projected to hit $379 billion in 2021-22.
“Australia is blessed with extraordinary reserves of the critical minerals needed by sectors including defence, aerospace, automotive, energy, telecommunications and agritech.
“We produce around half the world’s lithium and we are the second-largest producer of cobalt and the fourth-largest producer of rare earths.
“We have the potential to do so much more and we are taking action to grow Australia into a critical minerals powerhouse.”
Minister Pitt said Australia’s large critical minerals reserves, our technical expertise and track record as a reliable and responsible supplier, enable the sector to respond to increasing global market demand.
“We can also expand into downstream processing and embed Australia in global supply for technology ranging from mobile phones to fighter jets,” Minister Pitt said.
Minister Pitt said the Government has also committed $50 million over three years to establish the virtual National Critical Minerals Research and Development Centre, which will draw together expertise from CSIRO, Geoscience Australia, and the Australian Nuclear Science and Technology Organisation.
“This Centre will build Australian capability in critical minerals processing, target technical bottlenecks in strategic supply chains, and drive breakthrough collaborative research,” Minister Pitt said.
“The Centre’s projects will help unlock new sources of economically viable critical minerals, and diversify supply chains of strategic interest to Australia and our allies.”
The 2022 Critical Minerals Strategy is available on the Department of Industry, Science, Energy and Resources website.

https://www.reuters.com/business/au...ls-funding-offset-china-dominance-2022-03-16/

March 16, 20222:35 PM GMT+11Last Updated 6 min ago

Australia unveils $360 mln in critical minerals funding to offset China dominance
By Kirsty Needham

Jars containing rare earth minerals produced by Australia's Lynas Corp from its Mount Weld operations are seen near Laverton, northeast of Perth, Australia, August 23, 2019. REUTERS/Melanie Burton
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SYDNEY, March 16 (Reuters) - Australia announced almost A$500 million ($360 million) in funding to boost output of critical minerals, aiming to diversify supply for its allies and counter China's dominance of the global market.
Prime Minister Scott Morrison unveiled the funding for a slew of projects in Western Australia on Wednesday and said the state would become a powerhouse for Australia's allies.
"Recent events have underlined that Australia faces its most difficult and dangerous security environment that we have seen in 80 years. The events unfolding in Europe are a reminder of the close relationship between energy security, economic security and national security," he told reporters.

A meeting of the Quad group leaders of Australia, United States, Japan and India agreed in Washington in September to improve supply chain security for rare earths. read more
"China currently dominates around 70 to 80 percent of global critical minerals production and continues to consolidate its hold over these supply chains. This initiative is designed to address that dominance," said Angus Taylor, minister for industry, energy and emissions reduction.

Diplomatic relations between Australia and China are strained, with Canberra describing trade sanctions imposed on Australian agriculture and coal by Beijing in response to political grievances as "economic coercion".
Critical minerals are used in smartphones, computers, rechargeable batteries and electric cars as well as defence and space technology.
Projects to be funded include the second rare earth separation plant to be built outside China, a battery material refinery and a vanadium processing plant. Funding will also be provided to commercialise government research and bring new companies to market.

Some A$200 million will also be included in this month's budget for grants to bring more critical minerals projects to market. Australia has already made A$2 billion in financing available to build the industry.
Australia produces half the world's lithium, is the second-largest producer of cobalt, and is the fourth-largest producer of rare earths.
Diversifying resources exports will strengthen the Australian economy, officials also said.
Australia's resources and energy exports are worth A$348.9 billion, with iron ore shipped from Western Australia to China the nation's biggest export earner.
The funding for critical minerals follows an announcement by Morrison on Tuesday that Australia will build a A$4.3 billion naval dry dock in Western Australia to maintain navy ships and nuclear submarines visiting Australia from allied nations, as well as those it will acquire under the AUKUS defence agreement with the United States and Britain.
China has criticised AUKUS and the Quad as Cold War constructs "targeting other countries". read more
($1 = 1.3887 Australian dollars)