Algae and mining: A new frontier in sustainable site rehabilitation

Algae might seem an unlikely candidate to help transform Australia’s post-mining landscapes, but a new CSIRO -led project suggests these tiny aquatic organisms could provide sustainable futures for mine sites, surrounding ecosystems, and local communities. Looking down the microscope at the microalgae Nannochloropsis Australia’s mining sector is approaching a crossroads—where economic legacy and environmental responsibility must find common ground. A new CSIRO -led study, supported by the Cooperative Research Centre for Transformations in Mining Economies (CRC TiME), suggests that one of the most promising bridges between these imperatives may come from an unexpected source: algae. Though small in stature, algae are emerging as giants in their potential to transform post-mining landscapes. The study, developed in partnership with the University of Queensland and Murdoch University , proposes that algae-based technologies could reduce mining’s environmental footprint while seeding new...

Newmont, Sumitomo divest 7% of Batu Hijau

Newmont Indonesia Limited, a subsidiary of Newmont Mining Corporation and Nusa Tenggara Mining Corporation BV, an affiliate of Sumitomo Corporation, have completed the sale of 7% of PT Newmont Nusa Tenggara corresponding to the PTNNT 2009 divestiture obligations. The 7% interest was sold to PT Multi Daerah Bersaing, a consortium comprised of regional and local governments near the Batu Hijau copper and gold mine in Indonesia, and PT Multicapital, a private company.

The sale price was $247 million reduced by a $17 million dividend adjustment payable to PTMDB under the sale agreement.

In conjunction with the closing of the 2009 Share Transfer, the mine operating agreement among Newmont, NTMC, and PTMDB came into effect. Under this agreement, Newmont and Sumitomo continue to retain — so long as their combined shareholding is greater than PTMDB's interest in PTNNT — the right to apply Newmont's operational, technical, financial, and related standards and practices to the operation and management of Batu Hijau. This includes standards for safety, environmental stewardship, and social responsibility.

Pursuant to the PTNNT Contract of Work, an additional 7% of PTNNT's shares will be offered for sale by Newmont and NTMC by March 31, 2010, after which the divestiture obligations contained in the Contract of Work will be complete.