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The Source Newsletter - news and updates for E & R Young Professionals

6 August, 2024

[FIRSTNAME] , Member #[MEMBERCODE] Issue 6 - 2024, 5 August 2024

ER Law Young Professionals Committee 2024

We look forward to continuing to provide monthly updates and insights for all things ER Law.

COMMITTEE UPDATES

In July, Liam Di Martino (Lawyer – Thomson Geer) joined the Young Professionals Committee.

Welcome Liam!

The Young Professionals Committee accepts Expressions of Interest for Young Professional Members of ER Law to join the Committee on a rolling basis.

Successful candidates legal industry or academic experience related to energy, resources, infrastructure, projects or commodities. All Committee members actively contribute to the ER Law Young Professionals Committee and uphold ER Law’s key values of collegiality, diversity, service, integrity and innovation to achieve one cohesive team.

For more information on how to apply, please contact erlaw@erlaw.org.au.

IN THE KNOW

Legislative and policy updates

ACCC Draft Guide on sustainability and competition law

The Australian Competition and Consumer Commission (ACCC) has released a draft guide on the interaction between sustainability collaborations and Australian competition law (Draft Guide). The Draft Guide seeks to address the uncertainty around whether the sustainability collaborations businesses are increasingly entering into may contravene Australian competition law. It also includes practical tips for applying for authorisation, as well as a number of historical examples and hypothetical case studies, providing more concrete guidance for businesses as to best practice.

The ACCC is currently seeking comments on the Draft Guide until 26 July 2024 and is anticipated to publish the finalised version later this year.

Consultation released on capital gains tax changes for renewable energy foreign disposal transactions

On 23 July 2024, the Australian Treasury published a consultation paper detailing the Federal Government's proposed taxation targets across various infrastructure sectors with a particular focus on taxing foreign investors on the disposal of renewable energy assets. Foreign investors will be taxed on the disposal of assets such as wind turbines, solar panels, batteries, transmission towers, transmission lines, and substations.

The proposed changes are intended to apply to agreements entered into on or after 1 July 2025. Consultation on the proposed changes is open until 20 August 2024.

Victorian Government releases draft Transmission Plan Guidelines

On 23 July 2024, VicGrid released the draft Victorian Transmission Plan Guidelines, which will guide the creation of the Victorian Transmission Plan (VTP). This plan will outline areas in Victoria suitable for future renewable energy zones (REZs), assess the generation and storage capacity of these zones, determine the necessary transmission network infrastructure, and detail specific infrastructure projects for the next decade. The initial draft VTP is expected in early 2025, with the final version required by 31 July 2025.

The draft Guidelines are open for consultation until 25 August 2024, with feedback on the accompanying study area map open until 30 September 2024. The final Guidelines are anticipated by 30 September 2024.

ON THE CASE

Litigation and disputes updates

ASIC obtains Federal Court orders appointing receivers over digital currency assets of blockchain mining companies

On 12 April 2024, ASIC commenced civil proceedings against blockchain mining companies NGS Crypto Pty Ltd, NGS Digital Pty Ltd and NGS Group Ltd (NGS Companies) and the sole directors of those respective companies, Brett Mendham, Ryan Brown and Mark Ten Caten (Directors). In the proceedings, ASIC alleged that the NGS Companies contravened section 911A of the Corporations Act 2001 (Cth) by providing financial services without an Australian financial services licence. As part of the proceedings ASIC is also seeking interim and final injunctions against the NGS Companies preventing them from providing financial services in Australia without an Australian financial services licence.

On 10 April 2024, the Federal Court made interim orders that receivers be appointed over the digital assets of the NGS Companies and the Directors. Anthony Norman Connelly, Katherine Sozou and William James Harris of McGrath Nicol were appointed as receivers and managers. Their role initially is to secure the digital assets for investors. On 25 July 2024, Justice Collier delivered judgment refusing an application by NGS Group Limited and Mark Ten Caten to set aside the orders preserving the digital currency assets of the defendants. This means that the asset preservation orders obtained by ASIC, including the appointment of the receivers, continue.

ASIC’s investigation is still ongoing and updates can be found on its NGS Crypto Companies page.

Santos Ordered to Pay $2.5 million for Breaches of Record Keeping Obligations under the National Gas Rules

Australian Energy Regulator v Santos Direct Pty Ltd [2024] FCA 579

On 4 June 2024, Santos Direct Pty Ltd (Santos), a subsidiary of Santos Limited, was ordered to pay a $2.75 million penalty for breaches of record-keeping obligations under the National Gas Rules concerning the “Day Ahead Auction” for gas pipeline capacity.

The Day Ahead Auction was introduced in 2019 to improve competition in the gas market by providing access to contracted but unused capacity on gas pipelines. Under the National Gas Rules, Santos, as a transportation facility user, was required to make contemporaneous records of “material renominations” setting out the reason for the renomination, when the event giving rise to the renomination occurred and when it became aware of that event.

In addition to the $2.75 million penalty, the Court ordered an independent review of Santos’ processes to ensure future compliance, with Neskovcin J stating that the penalty imposed “should operate as a deterrent against such conduct being engaged in by Santos or other participants in the gas markets in the future”.

ACCC takes first enforcement action alleging gas standing offer prices above price cap

The ACCC has taken its first enforcement action for breaching a standing order price cap, issuing six infringement notices to M2 Energy Pty Ltd, trading as Dodo Power & Gas (Dodo) for contraventions under the Electricity Retail Code of Conduct (Code) in the Competition and Consumer (Industry Code – Electricity Retail) Regulations 2019.prescribed under the Competition and Consumer Act 2010 (Cth). The Code limits electricity prices for households and small businesses in certain Australian regions. Dodo admitted to pricing two standing offer prices above the relevant price cap during the period in contravention of the Code, failing to provide required price information to customers, and not recording price calculation methods. Dodo paid an $82,500 penalty for its violations and undertook to cease the non-compliance conduct and establish compliance measures to avoid similar future breaches of the Code.

A copy of the undertaking is available at M2 Energy Pty Ltd trading as Dodo Power & Gas (Dodo) and infringement notices are available on the infringement notices register.

HEADLINES

Projects, deals and industry news

Western Australia signs Renewable Energy Transformation Agreement

Western Australia is the latest state in Australia to sign a Renewable Energy Transformation Agreement (Agreement) which is designed to overcome barriers faced by project proponents and governments in delivering renewable energy projects. The Agreement, which forms part of the Federal Government’s plan to deliver an additional 32GW of renewable energy generation and storage in Australia by 2030, provides that the Federal Government will underwrite developers to build a minimum 6.5TW/h of new wind and solar projects and 1.1GW of new storage in WA. The WA and the Federal Government have also committed to improving community engagement and driving better social and economic outcomes from the energy transformation. This includes increasing First Nations participation and benefits, progressing skills and workforce development, and reinforcing renewable energy supply chains.

Australia's first floating wind farm edges closer with feasibility licence awarded to 2GW project

An up to 2GW offshore wind project proposed for the New South Wales Hunter region has been awarded a feasibility licence by the Federal Government, setting in motion the next stage of development for what would be Australia’s first floating offshore wind project. Federal energy minister Chris Bowen said on Thursday that the Novocastrian Offshore Wind Farm, being developed by Norwegian energy giant Equinor and Oceanex Energy, was the only project being offered a licence in the Hunter zone, due to others being proposed for overlapping areas and found to be of “lower merit.”

Latest Capacity Investment Scheme Renewable Energy Tender Opens

On 22 July 2024, the Federal Government announced its second Tender (Tender 2) under the expansion of the Capacity Investment Scheme (CIS) seeking to incentivise the national deployment of 32GW of renewable capacity and clean dispatchable capacity by 2030. Tender 2 which seeks to deliver a target of 2,000 MWh of clean dispatchable capacity across the Wholesale Electricity Market (WEM). Projects in Tender 2 must be located in Western Australia, connect to the South West Interconnected System as defined by the Electricity Industry Act 2004 (WA), have a minimum storage duration of two hours, a minimum size of 30 MW and meet all the Eligibility Criteria. The Australian Government has engaged AEMO to administer the competitive tender process.

Registration for Tender 2 will close on Monday 12 August 2024, with project bids accepted up until Monday 19 August 2024. Registered proponents can ask questions in the formal tender Q&A process which closes five business days prior to the project bid closing date.

EVENTS SERIES

The ER Law Annual Conference is recognised as the premier resources and energy law conference in Australia and throughout the Asian region. The event gives delegates an opportunity to expand their business network and build on their current knowledge and skills. Leading experts will share practical insights on global trends across our two-day program.

The theme of this year’s conference is Navigating the Critical Path: Charting Excellence in Energy and Resources Law.

The conference will be held at The Westin Hotel in Brisbane, Queensland from Wednesday 16 October to Friday 18 October and will open with a Welcome Reception on Wednesday evening. Business sessions will commence on Thursday until Friday afternoon. The Conference Dinner will be held on Thursday evening and the conference will end with farewell drinks.

Early Bird Rate closes 30th August!

Let your friends & colleagues know!

Save 25% off full price registrations! Click here for more details

UPCOMING EVENTS

In person (Perth): Developing and Executing Major Construction Projects: Implications of a ''Hot" Market and the Energy Transition - Thursday, 15 August 2024 Register here
How to BD Effectively, - Online, Wednesday, 4 September 2024 Register here
Contract Masterclass Series: Native Title and Contracts – Online, Tuesday, 10 September 2024 Register here
2024 Annual Conference – Brisbane, 16-18 October Access the Annual Conference website here

EXTERNAL EVENT

The future of energy, mining and resources in APAC - Online, Tuesday, 6 August 2024 Register here

COMING SOON

Contract Law Masterclass Series - Contractual Damages with Jeffrey Goldberger - Online, Wednesday, 25 September 2024
In person (Sydney): The Future of the Sustainable Aviation Fuel (SAF) Industry in Australia – Panel Discussion - Monday, 26 August 2024
Education, client engagement & lunch – Brisbane

For more information on ER Law’s 2024 events offering, view the events calendar here.

YOUR CONTRIBUTORS

With thanks to this month’s contributors to ‘The Source’:

Benjamin Gallagher

Lawyer

Allens

Geraldine Gazali

Associate

A&O Shearman

Sophie Dilda

Associate

Jones Day

Jaya Prasad

Lawyer & Assistant
Company Secretary

New Hope Group

YOUR SAY

Feedback, comments or questions? Get in touch and connect with us at erlaw@erlaw.org.au or via LinkedIn.

ER Law promotes technical excellence, education, innovation and collaboration in the law on energy, resources, renewables and commodities.

Business Centre 6.01, 365 Little Collins Street,
Melbourne, 3000, Victoria
Australia

+61 3 9248 5400

erlaw@erlaw.org
www.erlaw.org.au

Should you no longer wish to receive our emails, please [UNSUBSCRIBE] here

5 June, 2024

Member #[MEMBERCODE] Issue 5 - 2024, 5 June 2024

ER Law Young Professionals Committee 2024

We look forward to continuing to provide monthly updates and insights for all things ER Law.

IN THE KNOW

Legislative and policy updates

WA Carbon capture and storage bill passes WA parliament

On 14 May, assent was received for the Petroleum Legislation Amendment Bill 2023 passed through the WA Legislative Council on 8 May. The bill strengthens WA’s existing petroleum legislation and provides WA-based industries with opportunities to decarbonise by providing a legislative framework for the transport and geological storage of greenhouse gases. The landmark legislation will encourage further developments in the CCS industry in WA.

Northern Territory passes mineral royalties bill

On 21 May 2024, the Northern Territory Legislative Assembly passed the Mineral Royalties Bill 2024 (“Bill”). The Bill introduces a new ad valorem royalty scheme for the calculation, payment and administration of mineral royalties and is based on the principle that royalty is applied to only the value of the mineral resource produced. The Bill follows recommendations from the Mineral Development Taskforce's final report and will apply different royalty rates based on the level of mineral refinement. The changes introduced aim to promote economic growth, attract investment, and ensure fair compensation for the Territory's natural resources. The Bill is set to take effect from July 1 2024 and will be applied to new mines from 2024. Existing mines in production before 2023 will be exempt from the new scheme.

Commonwealth Government releases Future Gas Strategy

The Commonwealth Government has released its Future Gas Strategy which outlines how gas will support Australia’s transition to net zero emissions by 2050. The strategy consists of six principles which deal with the role of gas in the Australian economy, addressing future demand and supply, affordability and emission reduction. Immediate actions arising from these principles include:

updating policies for retention leases to encourage development of existing discoveries, including a firmer ‘use it or lose it’ policy;
working with regulators to reduce, and where possible, eliminate gas venting and flaring;
continued release of offshore acreage for greenhouse gas storage;
establishing a carbon capture and storage program which will provide options for energy security and carbon management solutions to regional partners; and
clarifying consultation requirements for offshore petroleum and greenhouse gas storage activities.

The full Future Gas Strategy can be found here.

Consultation opens on draft guidance for the removal of oil and gas property in Commonwealth waters

Draft guidance on the offshore Commonwealth decommissioning and sea dumping statutory regime applicable to oil and gas property and infrastructure is open for consultation. The draft guidance clarifies the circumstances and requirements for leaving oil and gas property and infrastructure in situ, in accordance with decommissioning obligations under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth) and sea dumping requirements under the Environment Protection (Sea Dumping) Act 1981 (Cth). The draft guidance details the interaction between the two statutes and each of the relevant regulators, being NOPSEMA, DISR and DCCEEW, outlining the assessment considerations when a titleholder applies for property or infrastructure to remain in offshore Commonwealth waters.

Public consultation on the draft guidance is open until 19 July 2024.

Queensland to ban carbon capture and storage projects throughout Great Artesian Basin

The Queensland Government has announced landmark legislation to ban carbon capture and storage activities within the Great Artesian Basin (“GAB”). This decision follows the the state's Department of Environment, Science and Innovation rejection of a proposal to inject carbon dioxide into the GAB and prior decisions by the State to introduce critical safeguards to protect the Queensland section of the Lake Eyre Basin in December 2023 and new laws locking in a 75 by 35 emissions reduction target. While carbon capture and storage will still be allowed in other parts of the state, subject to existing assessment and approval processes, it will be permanently prohibited within the GAB. The legislation is expected to be introduced and passed before the state election in October. The move has received support from various quarters, including local governments and environmental advocates, highlighting the critical importance of the GAB's water resources to communities in the region.

ON THE CASE

Litigation and disputes updates

Federal Court dismisses appeal by Environment Council of Central Queensland in “living wonders” case

Environment Council of Central Queensland Inc v Minister for the Environment and Water [2024] FCAFC 56

The Federal Court has dismissed an appeal by the Environmental Council of Central Queensland (“ECCQ”) against the Federal Environment Minister’s risk assessment of expansions to the Narrabri and Mount Pleasant coal mines in New South Wales. The Minister’s decision was made under the Environment Protection and Biodiversity Conservation Act 1999 (Cth) (“EPBC Act”), which requires the Minister to assess any adverse impacts which are substantially caused by the proposed expansion. ECCQ applied for judicial review of the Minister’s decision, arguing that the Minister had failed to consider the impact of the coal mines on climate change and “living wonders” such as the Great Barrier Reef. In the first instance decision the court concluded that it was up to the Minister to determine if the coal mines would substantially impact global climate change, finding that the Minister had acted within her powers under the EPBC Act.

The Full Federal Court agreed with the first instance decision, finding that the Minister had acted within her powers when assessing the impacts of both projects to not be a substantial cause of increased global greenhouse gas emissions. The judgement was critical of the present legislative scheme for assessing environment threats such as climate change and global warming under the EPBC Act, but ultimately provides the Minister with the power to make a final decision on the extension of the two coal mines.

ASIC prosecutes greenwashing civil penalty action against Vanguard for misleading ESG index fund

Australian Securities and Investments Commission v Vanguard Investments Australia Ltd [2024] FCA 308

ASIC has secured its first civil penalty in respect of greenwashing against Vanguard Investments Australia (“Vanguard”) with regards to misleading claims made about certain environmental, social and governance (“ESG”) exclusionary screens applied to investments in a Vanguard index fund, named the ‘Vanguard Ethically Conscious Global Aggregate Bond Index Fund’. Despite claims that the fund excluded certain industries, including fossil fuels, a significant proportion of securities were not screened against ESG criteria. The Federal Court found Vanguard guilty of making false or misleading representations about ESG exclusionary screens applied to its Vanguard Ethically Conscious Global Aggregate Bond Index Fund. During the proceedings, Vanguard admitted its conduct was liable to mislead the public and cooperated throughout the proceedings.

The court will determine the penalty for Vanguard's conduct in August 2024. The matter has been listed for further hearing in August 2024. Read the judgement here.

HEADLINES

Projects, deals and industry news

BHP ends $75 billion takeover bid for Anglo American

Australian mining giant, BHP has confirmed that it has shut down its takeover of Anglo American after Anglo American refused BHP’s request for an extension to a 29 May deadline to commit to a binding takeover offer. BHP submitted an increased and final offer to Anglo American’s board of directors on 20 May 2024 which was rejected by the Anglo American board on 22 May. The proposed structure of BHP’s deal required Anglo American to unbundle certain South African businesses and was a major reason for the deal collapsing. Under UK rules, BHP cannot return for at least six months, unless there is another offer for Anglo.

Brookfield and Temasek make EUR 6.1bn bid for French company Neoen

Brookfield Asset Management has agreed the initial stages of the take-private of Paris-listed renewable energy developed Neoen. The deal, valued at EUR 6.1 billion aims to give a consortium of Brookfield, Brookfield Renewable Partners and Singapore’s Temasek Holdings 53.3% stake in Neoen at a price of EUR 39.85 per share. If the deal successfully completes, Brookfield will emerge as the largest owner and operator of renewable energy in Australia.

Evolution Mining progresses AU$7bn plan for pumped hydro facility to repurpose mine pit

Evolution Mining, in partnership with financial consultancy ICA Partners, has proposed the Queensland Mount Rawdon Pumped Hydro Project to repurpose a pit at the existing Mount Rawdon mine for a pumped hydro facility with a capacity of 2 GW/20 GWh. The project, expected to require an investment of over AU$7 billion, aims to utilise the existing gold mine pit as the lower reservoir and construct an upper reservoir, along with tunnels. Evolution Mining’s feasibility study results suggest the project could significantly reduce power prices and provide essential firming capacity as Queensland transitions to renewable energy. With a target investment decision by December 2025, the project aims to power up to two million homes and support Queensland's renewable energy goals.

Proposal to expand Hunter Valley Operations touted as ‘largest coal-mining proposal ever’

Hunter Valley Operations, a metallurgical and thermal coal joint venture between Yancoal and Glencore in NSW, has proposed a plan to extend the mine life to 2050. The plan to extend operations until 2050 will result in significant additional thermal (437.6 million tonnes) and metallurgical (59.7 million tonnes) coal production for export and is projected to make up 14 per cent of new future coal production in NSW between 2024 and 2050. Being an emissions intensive project, the expansion plan will account for approximately 25 per cent of all NSW coal-sector greenhouse gas emissions in 2045, representing more than 3.5 percent of total forecast emissions for NSW during that time. While proponents argue for economic benefits, critics emphasise environmental concerns and conflicting emissions reductions legislation, and the need for renewable energy alternatives. The fate of the proposal awaits further evaluation by regulatory bodies.

EU, Australia sign critical minerals pact to diversify supply chains

Australia and the European Union have signed a memorandum of understanding (“MoU”) to enhance cooperation and investment in critical minerals. This agreement aims to reduce reliance on China, which currently dominates the supply chain of materials crucial for high-tech and green manufacturing. The MoU will lead to joint efforts over the next six months to develop concrete actions for collaboration on critical minerals projects. The partnership between Australia and the EU is seen as a significant step in securing a sustainable supply of critical raw materials for the EU while promoting investment in Australia.

EVENTS SERIES

The theme of this year’s conference is Navigating the Critical Path: Charting Excellence in Energy and Resources Law.

The Conference program has been finalised: Click here for more details

UPCOMING EVENTS

Contract Masterclass Series: Inference and implication in the identification of the terms of informal contracts with Jeff Goldberger – Online, Wednesday 17 July 2024 Register here
Market Insights with Korda Mentha – Recent trends and updates in the critical minerals market – Online, Wednesday 24 July Register here
Contract Masterclass Series: Native Title and Contracts – Online, Tuesday, 10 September 2024 Register here
2024 Annual Conference – Brisbane, 16-18 October Access the Annual Conference website here

COMING SOON

Contract Law Masterclasses - 2023 The Year in Review; Force Majeure & Frustration; Liquidated Damages & Penalties; Remedies for Breach; Dispute Resolution
Large scale infrastructure planning and investment: the NSW Ports case
Ethics and the Role of In-house Legal
Business Development – How to as a junior lawyer?
The Deloitte Series
Education, client engagement & lunch – Brisbane

For more information on ER Law’s 2024 events offering, view the events calendar here.

YOUR CONTRIBUTORS

With thanks to this month’s contributors to ‘The Source’:

Philippa Robinson

Associate

King & Wood Mallesons

Tom Smith

Corporate Lawyer

Cooper Energy

Jaya Prasad

Lawyer & Assistant Company Secretary

New Hope Group

YOUR SAY

Feedback, comments or questions? Get in touch and connect with us at erlaw@erlaw.org.au or via LinkedIn.

ER Law promotes technical excellence, education, innovation and collaboration in the law on energy, resources, renewables and commodities.

Suite 6.01, 365 Little Collins Street,
Melbourne, 3000, Victoria
Australia

+61 3 9248 5400

erlaw@erlaw.org
www.erlaw.org.au

Should you no longer wish to receive our emails, please [UNSUBSCRIBE] here

6 May, 2024

Issue 4 - 2024 - 6 May 2024

ER Law Young Professionals Committee 2024

We look forward to continuing to provide monthly updates and insights for all things ER Law.

IN THE KNOW

Legislative and policy updates

Federal Government announces the 'Future Made in Australia Act'

On 11 April 2024, Prime Minister Anthony Albanese announced plans to build an integrated clean energy and industrial system that sets up Australia's heavy industries for the future, including green hydrogen, metals and chemicals. To anchor the reform, the Federal Government will enact a new industrial policy titled the 'Future Made in Australia Act'. The Act is designed to mimic the pulling power of the United States's Inflation Reduction Act, with the Critical-Minerals Strategy expected to comprise a key element.

Consultation open on WA Draft Mining Development and Closure Proposal Guideline

The Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) is seeking feedback from stakeholders on the draft Mining Development and Closure Proposal (MDCP) guideline and Small Operations MDCP Proforma. The guideline relates to the MDCP framework established by the Mining Amendment Act 2022 (WA). A MDCP will be a single application document that only captures information required for assessment of a proposed mining operation. The objective of the guideline to assist users in submitting MDCPs to DEMIRS that meet the requirements of the Mining Act 1978 (WA) and the Mining Regulations 1981 (WA). The draft guideline is open for consultation until 13 May 2024.

Additional disclosures required for subsidiaries of public companies

On 8 April 2024 the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 (Cth) (Act) came into force. Notably for Australian public companies, a ‘consolidated entity disclosure statement’ will now be required as part of the entity’s annual reporting, including the name and tax residency of each entity. This is the first of two phases of announced reforms around corporate transparency, with additional changes are proposed in the second phase from 1 July 2024, particularly affecting entities who are members of the global corporate group operate in jurisdictions with no or low tax rates.

Mandatory climate-related financial disclosure reporting regime commencement date extended

On 27 March 2024, the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) (Bill) was tabled. Schedule 4 dedicated to amending the Corporations Act 2001 (Cth) (Corporations Act) to introduce Australia’s new climate-related financial disclosure regime as introduced in draft by the Australian Accounting Standards Board in October 2023, and largely aligns with the exposure draft legislation released earlier this year. Notably, the Bill extends the commencement date of the reporting regime from 1 July 2024 to 1 January 2025, providing affected reporting entities with an additional financial year to prepare for the changes. The Bill also includes a range of amendments in Schedules 1, 2 and 3 to strengthen Australia’s financial markets infrastructure to implement recommendations made in a report by the Council of Financial Regulators in June 2023.

Australian Government to legislate stronger merger laws

Reforms have been proposed by the Australian Government to bring the nation’s merger laws in line with other developed countries. The proposed laws include the introduction of a mandatory notification requirement for merger deals above certain thresholds, and a prohibition on merger transactions proceeding without receiving a determination from the ACCC or Tribunal. The intention is for the new laws to take effect from 1 January 2026.

Queensland Government proposes amendments under new MEROLA Bill

On 18 April 2024, the Queensland Government introduced the Mineral and Energy Resources and Other Legislation Amendment Bill 2024 (MEROLA) to Parliament. These amendments form part of the review of intersecting state industries under the Queensland Resources Industry Development Plan (QRIDP). The key objective of the MEROLA Bill will focus on making the land interactions between the resources, renewables and agricultural sectors more efficient and practical, with improved regulatory application and assessment processes. Among these amendments includes a new risk management framework for coal seam gas induced subsidence impacts on farming, and revised assessment and management of groundwater impacts of the resources industry. The MEROLA has been referred to the Clean Energy Jobs, Resources and Transport Committee with the report due for publication by 31 May 2024.

Federal Government to help fund two new critical minerals projects in Queensland and South Australia

On 17 April 2024, the Federal Government announced that it will support two major critical minerals projects in Queensland and South Australia. More specifically, Alpha HPA will receive a $400 million loan to help deliver its high-purity alumina processing facility in Gladstone, Queensland, while Renascor Resources will receive $185 million to fast-track the development of Stage One of its Siviour graphite project on the Eyre Peninsula in South Australia.

ON THE CASE

Litigation and disputes updates

WA Court of Appeal decides on the scope of Mining Act's indefeasibility provision

Wyloo Metals Pty Ltd v Quarry Park Pty Ltd [2024] WASCA 38

On April 17 2024, the WA Court of Appeal issued a judgement regarding the indefeasibility provision under section 116(2) of the Mining Act 1978 (WA). The matter pertained to Quarry Park Pty Ltd's (Quarry) sale of mining tenements, including a mining lease to Cauldron Pty Ltd (Cauldron). Wyloo Metals Pty Ltd applied for a prospecting licence over the same land and commenced legal proceedings in the Supreme Court to invalidate the grant of the mining lease. At first instance, the Supreme Court accepted Quarry's defence that Cauldron was protected by the indefeasibility of title provision. The Court of Appeal affirmed this, finding that section 116(2) safeguards against challenges to the validity of the purported grant of the mining lease. Furthermore, the Court determined that this protection applies immediately after an interest in the mining lease is obtained, such as through a conditional purchase and sales agreement, rather than solely upon registration.

Conservationists challenge the approval of Whitehaven Coal’s proposed coal mine

On 4 April 2024, the Australian Conservation Foundation and Mackay Conservation Group (Conservationists) began legal proceedings in the Queensland Land Court (Court), seeking the refusal of Whitehaven Coal’s Winchester South thermal and metallurgical coal mine – Australia’s largest proposed new coal project – proposed for the Bowen Basin, citing significant environmental and human rights impacts. The Queensland Government green lit the project earlier this year, but it still requires Federal Government approval before works can commence.

The Conservationists will argue that the Court should recommend no mining lease or environmental authority be granted for Whitehaven’s coal mine. As a result, a win in court will not necessarily change the Queensland Government’s decision to green light the project; however, the Queensland Government has historically acted in accordance with the Court’s recommendations. A date for the hearing is yet to be set.

ASIC wins first greenwashing civil penalty action

Australian Securities and Investments Commission v Vanguard Investments Australia Ltd [2024] FCA 308

On 28 March 2024, the Federal Court found Vanguard Investments Australia to have contravened law by making misleading claims about certain environmental, social, and governance (ESG) exclusionary screens applied to investments in a Vanguard index fund. In particular, Justice O’Bryan found that Vanguard contravened the ASIC Act by making false or misleading representations about the ESG exclusionary screens that were applied to the Vanguard Ethically Conscious Global Aggregate Bond Index Fund. The matter has been listed for further hearing on 1 August 2024 at which the Court will consider the appropriate penalty to impose for Vanguard’s conduct. See the full judgment here.

Climate change considerations included in decision to approve ‘future acts’

Gomeroi People v Santos NSW Pty Ltd and Santos NSW (Narrabri Gas) Pty Ltd [2024] FCAFC 26

The Gomeroi People lodged an appeal against a decision from the National Native Title Tribunal regarding the future act process under the Native Title Act 1993 (Cth), specifically about the grant of four petroleum production lease applications to Santos in regards to the Narrabri Gas Project.

The appeal was successful on one ground out of six claimed, concerning the criteria under section 39 of the Native Title Act, particularly the public interest considerations the National Native Title Tribunal must take into account in approving a future act. The Court determined that in making the decision, the NNTT erred by not considering environmental matters when considering “any public interest” with regard to the proposed future act, and that it should have taken into account evidence regarding the expected greenhouse gas emissions of the future act (being the operation of the Narrabri gas project) and its contribution to global warming as matters of public interest.

HEADLINES

Projects, deals and industry news

The nickel price crash and the road to recovery in Australia

The global nickel market has experienced unprecedented volatility that has slowed, and in some cases ended, Australian nickel operations. The slump is partly attributed to the oversupply of cheap, low-grade nickel pig iron from China and Indonesia, weakening the Australian market. This surplus in global supply has caused Australian miners to either reduce output of nickel mines, or to withdraw from or suspend operations entirely. However, the continued growth in demand for energy transition technologies over the coming years, particularly for electric vehicles, the batteries for which hold nickel as a key component, will likely bolster sales of the metal and aid price recovery in the long-term. To learn more about the state of the Australian nickel and other commodities markets, stay tuned for our upcoming Market Insights session with KordaMentha in July 2024.

Origin Energy to acquire 1.5GW wind and energy storage project in NSW

Origin Energy has entered an agreement to acquire one of the largest wind and energy storage projects in New South Wales from German-owned company Virya Energy. Development and environmental approvals for the project were granted in December 2023 and February 2024 respectively. FID and commencement of construction are expected to occur during 2025-26, whilst commissioning is scheduled for 2027 and 2029.

NT Government commits $2 million per year for Beetaloo gas monitoring program

In its 2024 Budget, the Northern Territory Government has committed to invest $2 million each year in a monitoring program designed to ensure that there are strong environmental safeguards in place at the Beetaloo Sub-Basin. Most of the monitoring activities will be conducted by Charles Darwin University. The program seeks to ensure that the Territory’s gas industry provides transparent and publicly accessible reporting.

Theiss locks in $1.9 billion contract extension with BHP

Mining services giant Theiss has locked in a six-year contract extension, valued at $1.9 billion, with BHP for the Mount Arthur South coal operations in the Hunter Valley region of NSW. This extension will see Theiss continue to operate and maintain mining equipment to support BHP’s production requirements and work with BHP and the local community towards the mine’s planned closure in 2030. Theiss has provided mining services to Mount Arthur South site since 2017.

The 2024 WA Branch Conference was a day packed with captivating presentations, engaging panel discussions, and valuable networking opportunities. A special thanks to our sponsors, speakers and attendees. Your dedication and involvement were instrumental in making the event a resounding success. Thank you!

UPCOMING EVENTS

In-person (Perth): PNI Energy & Mining Speed Networking event – Perth, 7 May sold out
Webinar: Contract Masterclass Series 1 - Loss of Contractual Rights by Conduct with Jeffrey Goldberger, 15 May register here
Young Professionals Webinar: Metals Streaming 101: An introduction to this alternate funding source for Australian mining, 21 May register here
In-person (Brisbane): Government intervention in the East Coast Gas Market , 4 June register here
Young Professionals webinar: Market Insights – Recent trends and updates in the critical minerals market – Online, 24 July registration opening soon
2024 Annual Conference – 16-18 October, Brisbane registrations opening mid May

COMING SOON

Contract Law Masterclasses

Large scale infrastructure planning and investment: the NSW Ports case

Business Development – How to as a junior lawyer?

The Deloitte Series

YOUR CONTRIBUTORS

With thanks to this month’s contributors to ‘The Source’:

Shalini Uthayakumaran

Associate

Hive Legal

Regina Yap

Associate

Allens

Dominic Surace

Associate

Johnson Winter Slattery

YOUR SAY

Feedback, comments or questions? Get in touch and connect with us at erlaw@erlaw.org.au or via LinkedIn.

ER Law promotes technical excellence, education, innovation and collaboration in the law on energy, resources, renewables and commodities.

Suite 6.01, 365 Little Collins Street,
Melbourne, 3000, Victoria
Australia

+61 3 9248 5400

erlaw@erlaw.org
www.erlaw.org.au

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4 April, 2024

Issue 3 - 2024 - 4 April 2024

ER Law Young Professionals Committee 2024

We look forward to continuing to provide monthly updates and insights for all things ER Law.

2023 NATIONAL ESSAY PRIZE - WINNERS ANNOUNCED

In 2023, ER Law opened the National Essay Prize to law students and emerging lawyers across Australia and ASEAN countries. A record-breaking number of high-calibre essays were submitted for the competition, by students and emerging lawyers across Australia and Singapore.

WINNERS OF THE ER LAW 2023 NATIONAL ESSAY PRIZE

We are pleased to announce the following winners of the 2023 ER Law National Essay Competition:

1st prize ($1,500 + 24 months ER Law membership): 'Liability for Failing to Rehabilitate Mines in Western Australia: Law Reform Options to Promote Greater Compliance' by Joseph Waters (WA).
2nd prize ($750 + 24 months ER Law membership): 'Unearthing the Last-Resort Power: The Bedrock Implications for the National Interest' by Marcus Ware (QLD).
3rd prize (12 months ER Law membership): 'Redefining Landscapes: Administrative Law and Customary Land Ownership in Esso P'Nyang Limited v Bernard' by Sophia Bleakley (NSW).

Congratulations to all winners and particpants in the 2023 Essay Prize. Beyond the prize-winners there were also a number of high calibre entries potentially suitable for publication in the ARELJ, with suitable entrants to be contacted soon.

We are further thrilled to announce that ER Law will be launching the 2024 National Essay Prize in the coming months. Stay tuned!

IN THE KNOW

Legislative and policy updates

Consultation open on Petroleum Resource Rent Tax reforms

Treasury has released an exposure draft for the ‘Petroleum Resource Rent Tax Regulations – 2024 remake’ and explanatory statement in relation to the proposed changes, which include changes to the methodology used in the 2015 PRRT regulations to calculate the price of LNG sales gas. The draft Petroleum Resource Rent Tax Assessment Regulations 2024: Miscellaneous amendments aim to modernise the PRRT by placing a cap on certain deductions, better account for tolling arrangements, address PRRT anti-avoidance rules by bringing them in line with income tax anti-avoidance rules and to clarify the tax treatment of “exploration for petroleum”. The draft ‘remake’ is open for consultation until 12 April 2024

Queensland Government releases its REZ Roadmap

The Queensland Government released its Renewable Energy Zone (REZ) Roadmap on 26 March, which is soon to become law in Queensland. The framework outlines a clear path for regional Queensland renewables and identifies 12 potential sites for REZs that could generate 22 GW of renewable power. The proposed Callide REZ in Central Queensland will likely to be the first official REZ. The State’s announcement states that each proposed REZ will host significant wind, solar and storage, and will be connected to the Queensland SuperGrid, Queensland’s multi-billion dollar planned transmission upgrade.

Third offshore wind zone declared in Southern Ocean, western Victoria

The Australian government has officially declared a new offshore wind zone in the Southern Ocean off western Victoria. The zone is the third officially declared offshore wind zones in the country and will support future onshore manufacturing powered by cleaner, cheaper energy. The declaration paves the way for energy and job security in a region home to one of Australia’s largest smelters. Feasibility licence applications for offshore wind projects in the Southern Ocean zone are now open and will close on 2 July 2024.

Australian Government announces A$1bn investment solar panels with Solar Sunshot program

The Federal Government has announced the Solar Sunshot program, dedicating A$1 billion in subsidies, grants and other forms of support to the domestic production of solar panels. Funding will include assistance to help manufacture solar panels at AGL Energy’s former coal-fired Liddell Power Station, with the Australian Renewable Energy Agency (ARENA) to help with the design and delivery of the initiative.

Australian Energy Regulator proposes draft Default Market Offer for market electricity prices

The Australian Energy Regulator (AER) has proposed the Default Market Offer (DMO) for 2024-25, aiming to balance fair prices for consumers with retailer profitability. The draft suggests most residential and small business customers could see reductions in electricity bills, though some increases may occur based on region and load type. With a focus on consumer protection, the AER has adjusted the DMO pricing, ensuring reasonable margins for retailers while prioritizing affordability. Consumers are advised to explore competitive market offers and utilize available rebates and concessions to lower energy costs. The draft DMO can be viewed here.

ON THE CASE

Litigation and disputes updates

Federal Court allows appeal against Narrabri gas project

The Federal Court has ruled in favour of an appeal against the National Native Title Tribunal’s decision to allow four production licences for Santos’ $3.5bn Narrabri Gas Project in New South Wales. The appeal was brought on behalf of the Gomeroi people who argued that the National Native Title Tribunal failed to consider climate change when it approved the production licences. There were six questions of law raised by the appeal, and only one was successfully appealed, with the court finding that the National Native Title Tribunal had erred at law by declining to give regard to evidence on climate impacts which were presented by the Gomeroi peoples. Santos’ statement regarding the appeal can be found here.

Environmental Defenders Office commissions external review following Mankara v Santos NA Barossa Pty Ltd

Following the January 2024 decision by the Federal Court to lift the injunction on Santos’ $5.8bn Barossa Gas Project and Justice Charlesworth’s scathing criticism of the conduct of the Environmental Defenders Office (EDO), the EDO has engaged Tony McAvoy SC, with the assistance of law firms Chalk & Behrendt and Gilbert + Tobin, to conduct a review of the EDO’s current processes. In delivering her judgement, Justice Charlesworth rejected claims by a group of Tiwi Islanders that the proposed pipeline would risk Indigenous cultural heritage and found that the EDO had coached Indigenous witnesses and presented evidence lacking in integrity. The EDO has commissioned the review to ensure continuous improvement and strengthen the EDO’s practice and service delivery. The review will examine and make recommendations on best practice when working with First Nations clients and communities, including in Court processes involving cultural heritage.

Land and Environment Court dismisses legal challenge to cancel NSW silver mine

On 14 March 2024, the Land and Environment Court dismissed a legal challenge brought by the Mudgee Region Action Group, which comprise of Mudgee residents, in relation to the Bowdens Silver Mine. The mine is located in central-west New South Wales near the village of Lue, east of the town of Mudgee, and is planned to extract more than 30 million tonnes of lead, silver and zinc over a 23 year lifespan. The case brought by the Mudgee Region Action Group related to concerns about the supply of energy and water to the project site.

In April 2023, the Bowdens Silver Mine project, aiming to extract and process over 30 million tonnes of lead, silver, and zinc over 23 years, received approval from the Independent Planning Commission (IPC). The project underwent IPC review following nearly 2,000 public submissions, over half of which expressed objections to the mine.

HEADLINES

Projects, deals and industry news

Woodside completes sale of a 10% interest in the Scarborough Joint Venture

Australian oil and gas company Woodside Energy completed the sale of a 10% non-operating participating interest in the Scarborough Joint Venture to LNG Japan on 26 March. The total consideration, comprising the purchase price, reimbursed expenditure and escalation was USD 910 million. The completion follows Woodside’s announcement on 8 August 2023 that it had established a strategic relationship with LNG Japan that involved three elements: equity in the Scarborough Joint Venture; potential LNG offtake; and collaboration on potential opportunities in new energy. Woodside also announced on 23 February that it has agreed to sell a 15.1% non-operating, participating interest in the joint venture to JERA. Woodside will continue to remain as operator of the project.

Marinus Link project ownership split between Federal and State governments

The Marinus Link project, a proposed electricity and telecommunications interconnector between Tasmania and Victoria in Australia, is now jointly owned by the Federal Government (49%), the Victorian State Government (33.3%), and the Tasmanian State Government (17.7%). This new ownership structure sees Marinus Link become a stand-alone entity, separating from TasNetworks, its previous parent company owned by the State of Tasmania. Caroline Wykamp, CEO of Marinus Link, expressed that the new ownership structure is a commitment to advancing this nationally significant project. The Marinus Link project aims to enable the flow of electricity in both directions between the two states, delivering low-cost, reliable, and clean energy for customers in the National Electricity Market (NEM).

CSIRO launches new critical minerals program

The CSIRO has opened applications for small to medium enterprises (SMEs) in the critical minerals industry to apply for its ‘Innovate to Grow’ Program designed to help SMEs to “acquire valuable business insights and strategic plans to leverage research and development to meet their business needs”. The course provides participants with access to CSIRO industry stakeholders, facilitators and researchers to assist with examining the participants’ technical or business challenges and develop R&D business solutions and funding plans. Applications for the Program close on 14 April 2024.

Jemena to enable reverse gas supply through Eastern Gas Pipeline to ease supply pressures

Jemena plans to enable reverse supply of gas from New South Wales to Victoria through its Eastern Gas Pipeline (EGP), potentially delivering up to 300TJ of gas per day. The EGP, operational since 2000, traditionally transported gas from the Bass Strait to New South Wales and could supply over 70% of the state’s gas needs. The reversal is in response to warnings from the Australian Energy Market Operator about impending gas shortages in Victoria and New South Wales. The reversal project aims for bi-directional operation, initially allowing 200TJ of gas per day from the Port Kembla Energy Terminal (PKET) to Victoria by winter 2026.

ARENA announces A$2m grant for feasibility study into hydrogen production and storage in Otway Basin, Victoria

The Australian Renewable Energy Agency (ARENA) is providing $2 million for a feasibility study on large-scale hydrogen production and storage in Victoria’s Otway Basin. The study is part of Lochard Energy’s H2RESTORE project, aiming to firm the National Electricity Market (NEM) with long-duration, seasonal energy storage. The study will assess the technical feasibility of storing hydrogen in sandstone, design a pilot facility, and plan for a potential commercial storage facility. The project’s success could lead to a pilot facility and eventually a large-scale commercial facility for underground hydrogen storage, supporting Australia’s transition to net zero emissions.

SPONSOR ANNOUNCEMENT

Welcome to our Principal Sponsor - Hamilton Locke! We are thrilled to have your esteemed support for our upcoming 2024 Western Australia One Day Conference, 24 April 2024 . Your partnership is instrumental in making this event a success, and we are grateful for your commitment. Thank you for your generous contribution and belief in our vision.

UPCOMING EVENTS

SA DEM and ER Law Round Table - Draft Hydrogen and Renewable Energy Regulations - Adelaide, 12 April details coming soon
Western Australia Branch Conference ‘Navigating the changing landscape of the energy and resources sector’– Perth, 24 April 2024 register here
PNI Energy & Mining Speed Networking event – Perth, 7 May register here
Government intervention in the East Coast Gas Market register here
2024 Annual Conference – 16-18 October, Brisbane register here

COMING SOON

Contract Law Masterclasses - 2023 The Year in Review; Force Majeure & Frustration; Liquidated Damages & Penalties; Remedies for Breach; Dispute Resolution
Large scale infrastructure planning and investment: the NSW Ports case
Young Professionals Program – Opportunities for Metals Streaming
Business Development – How to as a junior lawyer?
The Deloitte Series
Education, client engagement & lunch – Brisbane

For more events, please see the ER Law website here

2024 Membership Renewals are underway. Renew your ER Law Membership for Exciting Benefits in 2024 - Plus, Discover Our New Website!

If you have not received your self service renewal link or if you require an invoice please contact us at erlaw@erlaw.org.au. Corporate Account members renewal information has been sent to the Account Holder.

YOUR SAY

Feedback, comments or questions? Get in touch and connect with us at erlaw@erlaw.org.au or via LinkedIn.

ER Law promotes technical excellence, education, innovation and collaboration in the law on energy, resources, renewables and commodities.

Suite 6.01, 365 Little Collins Street,
Melbourne, 3000, Victoria
Australia

+61 3 9248 5400

erlaw@erlaw.org
www.erlaw.org.au

Should you no longer wish to receive our emails, please [UNSUBSCRIBE] here

4 March, 2024

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color: #da1f33;"></a> <em>We look forward to continuing to provide monthly updates and insights for all things ER Law.</em></p></div></div></td></tr></tbody></table><table class="divider_block block-3" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad" style="padding-bottom:10px;padding-left:10px;padding-right:10px"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:11px solid #da1f33"><span> </span></td></tr></tbody></table></div></td></tr></tbody></table><table class="text_block block-4" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad"><div style="font-family:sans-serif"><div class="" style="font-size:12px;font-family:Open Sans,Helvetica,Arial,sans-serif;mso-line-height-alt:14.399999999999999px;color:#555;line-height:1.2"><p style="margin:0;mso-line-height-alt:14.399999999999999px" align="justify"><span style="color:#ab0a3d;"><strong>2023 NATIONAL ESSAY PRIZE</strong> <strong>– WINNERS ANNOUNCED SOON!</strong></span></p></div></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-5" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="image_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad" style="width:100%"><div class="alignment" align="center" style="line-height:10px"><div style="max-width:600px"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/4e7afdff-1e8e-40e3-a7e0-c49fc818f7d8/ampla-hdsGJdgsHHH/Copy%20of%20Membership%20Renewal%20for%20web%202024%20%281%29.png" style="display:block;height:auto;border:0;width:100%" width="600"></div></div></td></tr></tbody></table><table class="divider_block block-2" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:11px solid #da1f33"><span> </span></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-6" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad"><div style="font-family:sans-serif"><div class="" style="font-size:12px;font-family:Open Sans,Helvetica,Arial,sans-serif;mso-line-height-alt:14.399999999999999px;color:#555;line-height:1.2"><p style="margin:0;mso-line-height-alt:14.399999999999999px"><strong><span style="font-size:14px;">IN THE KNOW</span><br></strong></p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><span style="font-size:14px;"><em>Legislative and policy updates</em></span> </p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><strong><span style="font-size:14px;"><a href="https://www.australianmining.com.au/nickel-joins-critical-minerals-list/" style="text-decoration: underline; color: #1f38da;">Nickel added to Australia’s Critical Minerals List</a></span></strong></p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"> <span style="font-size:14px;">On 16 February 2024, Federal Resources Minister Madeleine King confirmed that nickel will be added to <a href="https://www.industry.gov.au/publications/australias-critical-minerals-list-and-strategic-materials-list" style="text-decoration: underline; color: #1f38da;">Australia’s Critical Minerals List</a>, enabling participants in the nickel industry to access the Critical Minerals Facility, a $4 billion fund offering low-cost loans to invest into projects. Nickel was previously a strategic material, however has been elevated to enable and entice participants to continue to invest in Australia’s nickel operations through access to the fund. The announcement by Minister King can be listened to&nbsp;<a href="https://aus01.safelinks.protection.outlook.com/?url=https://www.abc.net.au/listen/programs/perth-mornings/nickel-to-be-added-to-critical-minerals-list/103476076&amp;data=05|02||133a68e342d9478da91808dc381db9b4|32cedabbc5f941b7bc32f5e7eb88e8ec|0|0|638446947571046375|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&amp;sdata=AL5ZcOOXHt8t464H4QvfvCC0jm5kSNJC+Upa/XKKMjg=&amp;reserved=0" style="text-decoration: underline; color: #1f38da;">here</a>.</span> </p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><span style="font-size:14px;"><em>&nbsp;</em></span></p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><strong><span style="font-size:14px;"><a href="https://www.hopgoodganim.com.au/page/knowledge-centre/legislation-update/emission-reduction-targets" style="text-decoration: underline; color: #1f38da;">Queensland Government proposes to legislate state reduction targets</a></span></strong></p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"> <span style="font-size:14px;">On 14 February 2024 the Queensland Government has introduced the <a href="https://www.legislation.qld.gov.au/view/html/bill.first/bill-2023-076" style="text-decoration: underline; color: #1f38da;">Clean Economy Jobs Bill 2024</a>, aiming to legislate the state's greenhouse gas emissions reduction targets. The proposed targets include reducing emissions to 30% below 2005 levels by 2030, 75% below by 2035, and achieving net-zero emissions by 2050. The Bill establishes annual statements on progress, sector-based emissions reduction plans, and a 'Clean Economy Expert Panel' to advise on meeting targets. The objectives of the Bill aligns with the Climate Action Plan and the Energy Bill, currently in consultation, which focuses on renewable energy targets, public ownership, infrastructure, and job security, with a report expected on April 5, 2024.</span> </p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><strong><span style="font-size:14px;"><a href="https://www.lexology.com/library/detail.aspx?g=7a8f2b81-9193-4451-8043-cf1d8768ecd5" style="text-decoration: underline; color: #1f38da;">Amendments proposed to Queensland's environmental harm laws</a></span></strong></p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"> <span style="font-size:14px;">Introduced on 13 February 2024, the <a href="https://www.legislation.qld.gov.au/view/html/bill.first/bill-2023-044" style="text-decoration: underline; color: #1f38da;">Environmental Protection (Powers and Penalties) and Other Legislation Amendment Bill 2024</a> in Queensland proposes amendments to enhance regulatory responses to environmental harm, following findings and recommendations from the<em> </em><a href="https://environment.des.qld.gov.au/management/policy-regulation/independent-review" style="text-decoration: underline; color: #1f38da;">Jones Review</a>. Key changes include an expanded definition of "environment," a new offense for not complying with the general environmental duty, and the introduction of a duty to restore the environment. The Bill also replaces existing orders with an environmental enforcement order, strengthens environmental policy principles, and empowers authorities for amendments to environmental authorities.</span> </p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><strong><span style="font-size:14px;"><a href="https://aus01.safelinks.protection.outlook.com/?url=https://pacetoday.com.au/western-australias-position-on-generation-investments/&amp;data=05|02||133a68e342d9478da91808dc381db9b4|32cedabbc5f941b7bc32f5e7eb88e8ec|0|0|638446947570984430|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&amp;sdata=rAxEyq0Myp6ihqdt/UhkAoRqMhCm5KhDc8qAS7GP8gI=&amp;reserved=0" style="text-decoration: underline; color: #1f38da;">Report finds WA decarbonisation plan to be at risk</a></span></strong></p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"> <span style="font-size:14px;">A report commissioned by the Australian Energy Council has raised concerns about WA’s proposed plans to decarbonise, citing risks such as a lack of new electricity transmission planning and investment, along with a lengthy, costly, and opaque grid connection process. The state legislated target aims for net zero target by 2050, including renewable hydrogen goals and the closure of coal-fired power stations by 2030. The report suggests addressing bottlenecks in the grid connection process, advocating for a quicker and more transparent approach to ensure timely project implementation and investor certainty. It also emphasises clarifying and making cost-recovery mechanisms for transmission investments equitable across all investors.</span> </p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><strong><span style="font-size:14px;"><a href="https://aus01.safelinks.protection.outlook.com/?url=https://reneweconomy.com.au/south-australia-fast-tracks-100-pct-renewables-target-to-2027/&amp;data=05|02||133a68e342d9478da91808dc381db9b4|32cedabbc5f941b7bc32f5e7eb88e8ec|0|0|638446947570996336|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&amp;sdata=uHGudiksXAZ7p4Ddgm/qTC2cptMeW1X1R5uL253VQw8=&amp;reserved=0" style="text-decoration: underline; color: #1f38da;">South Australia fast-tracks 100 pct renewables target to 2027</a></span></strong></p><p style="margin:0;font-size:14px;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"> <span style="font-size:14px;">The South Australian Government has announced a fast track of its net zero target to achieve net zero by 2027, previously by 2030. This fast tracked approach is supported by South Australia’s new wind and solar developments, as well as ambitious hydrogen plans.&nbsp;The faster uptake has been propelled by the growth of rooftop solar, and the construction of new utility scale projects, such as the 413 MW first stage of the Goyder South wind farm. The Australian Energy Market Operator had predicted the SA target could be reached by 2026, and late last year the transmission company <strong>ElectraNet confirmed</strong> the&nbsp;<a href="https://reneweconomy.com.au/south-australia-to-reach-100-pct-wind-and-solar-within-a-few-years-says-network-company/" style="text-decoration: underline; color: #1f38da;">“net 100 per cent” renewables target would be met several years early.</a></span> </p></div></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-7" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad"><div style="font-family:sans-serif"><div class="" style="font-size:14px;font-family:Open Sans,Helvetica,Arial,sans-serif;mso-line-height-alt:16.8px;color:#555;line-height:1.2"><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px">&nbsp;</p></div></div></td></tr></tbody></table><table class="divider_block block-2" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:11px solid #da1f33"><span> </span></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-8" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad" style="padding-bottom:10px;padding-left:10px;padding-right:10px"><div style="font-family:Arial,sans-serif"><div class="" style="font-size:14px;font-family:Open Sans,Helvetica Neue,Helvetica,Arial,sans-serif;mso-line-height-alt:16.8px;color:#555;line-height:1.2"><p style="margin:0;font-size:13px;mso-line-height-alt:15.6px"> <span style="font-size:14px;"><strong>ON THE CASE<br><br></strong></span></p><p style="margin:0;mso-line-height-alt:16.8px"><em>Litigation and disputes updates</em></p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"><strong><a href="https://www.watoday.com.au/national/western-australia/rio-tinto-sues-contractor-as-court-case-over-2018-mining-death-looms-20240215-p5f58g.html" style="text-decoration: underline; color: #1f38da;">Rio Tinto initiates new proceedings in respect of 2018 fatality</a></strong></p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"> Mining giant Rio Tinto through its subsidiaries including Channar Mining has initiated legal action against former contractor WorkPac, alleging a breach of a labour supply contract by failing to secure required insurance. The lawsuit comes as Rio Tinto faces a damages claim from the family of the deceased involved in a fatal incident at the Channar mine in 2018. Rio Tinto argues that proper insurance would have shielded them from liability in the pending District Court damages claim. The case is scheduled for the District Court in April. </p><p style="margin:0;mso-line-height-alt:16.8px"><em>&nbsp;</em></p><p style="margin:0;mso-line-height-alt:16.8px"><strong><a href="https://aus01.safelinks.protection.outlook.com/?url=https://www.abc.net.au/news/2024-02-25/traditional-owners-section-18-equinox-resources-section-18-wa/103503324&amp;data=05|02||133a68e342d9478da91808dc381db9b4|32cedabbc5f941b7bc32f5e7eb88e8ec|0|0|638446947571017636|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&amp;sdata=vbEIXx2tXWh0sWQ4tOtXgyzTNd9Ai5E9yr7cFevEhaE=&amp;reserved=0" style="text-decoration: underline; color: #1f38da;">Equinox Resources lodges section 18 request under new&nbsp;cultural</a> </strong>heritage laws</p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"> Perth-based Equinox Resources have applied under section 18 of the recently reformed&nbsp;Aboriginal Heritage Act 1972&nbsp;(WA) for consent to disturb Aboriginal heritage as part of its Hamersley Iron Ore Project. The application is opposed by the local Wintawari Guruma Aboriginal Corporation. It is among the first section 18 applications since the Western Australian government changed the law. The application now awaits assessment by the Aboriginal Cultural Heritage Committee, which will advise the Aboriginal Affairs Minister on whether to permit the disturbance of the identified heritage sites. A statement from Wintawari is reported by the National Indigenous Times <a href="https://nit.com.au/28-02-2024/10009/alarm-as-miners-seek-approval-to-impact-heritage-sites-without-traditional-owners-consent" style="text-decoration: underline; color: #1f38da;">here</a>. </p><p style="margin:0;mso-line-height-alt:16.8px"><em>&nbsp;</em></p><p style="margin:0;mso-line-height-alt:16.8px"><strong><a href="https://aus01.safelinks.protection.outlook.com/?url=https://www.caselaw.nsw.gov.au/decision/18cad2273c26f3078ac9c016&amp;data=05|02||133a68e342d9478da91808dc381db9b4|32cedabbc5f941b7bc32f5e7eb88e8ec|0|0|638446947571053560|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&amp;sdata=Bs+DcK3r7XlLz+TapRtG8FXgYJ7slXYocvQW0bSrI+E=&amp;reserved=0" style="text-decoration: underline; color: #1f38da;">NSW Court rejects solar project development application due to impacts on “scenic quality”</a></strong></p><p style="margin:0;mso-line-height-alt:16.8px"><strong>&nbsp;</strong></p><p style="margin:0;mso-line-height-alt:16.8px"> In December 2023 the NSW Land and Environment Court rejected an appeal from IT Power (Australia) Pty Ltd (IT Power) against the Mid-Western Regional Council’s decision to refuse a development application for a 10 mega-watt solar farm in the Burrundulla Valley, NSW. The development application sought to construct 25,000 solar photovoltaic panels and inverters, transformer stations and supporting infrastructure on vacant agricultural land which has been identified as being “visually sensitive land” under the&nbsp;Mid-Western Regional Local Environmental Plan 2012&nbsp;and within the regional city of Mudgee, meaning that the&nbsp;State Environmental Planning Policy (Transport and Infrastructure) 2021&nbsp;(State Planning Policy)&nbsp;has to be complied with. In rejecting the appeal the Court was not satisfied that the development is unlikely to have a significant adverse impact on the regional city’s scenic quality and landscape character, as is required by the State Planning Policy. </p></div></div></td></tr></tbody></table><table class="divider_block block-2" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:11px solid #da1f33"><span> </span> </td></tr></tbody></table></div></td></tr></tbody></table><table class="text_block block-3" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad" style="padding-bottom:10px;padding-left:10px;padding-right:10px"><div style="font-family:Arial,sans-serif"><div class="" style="font-size:14px;font-family:Open Sans,Helvetica Neue,Helvetica,Arial,sans-serif;mso-line-height-alt:16.8px;color:#555;line-height:1.2"> <p style="margin:0;font-size:13px;mso-line-height-alt:15.6px"><span style="font-size:14px;"><strong>HEADLINES<br><br></strong></span></p><p style="margin:0;mso-line-height-alt:16.8px"><em>Projects, deals and industry news</em></p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"> <strong><a href="https://aus01.safelinks.protection.outlook.com/?url=https://minister.dcceew.gov.au/bowen/media-releases/joint-media-release-pilbara-hydrogen-hub-boost-australias-hydrogen-industry&amp;data=05|02||133a68e342d9478da91808dc381db9b4|32cedabbc5f941b7bc32f5e7eb88e8ec|0|0|638446947571060473|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&amp;sdata=kpRd3+Ng8ilpU0+I9X/6u5KVh6zOGRz1X3i3/Nd+Ruk=&amp;reserved=0" style="text-decoration: underline; color: #1f38da;">New Pilbara Hydrogen Hub in Western Australia</a></strong></p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"> On 19 February 2024, the Western Australian Government and the Commonwealth Government announced the finalisation of an agreement to fund $140m for the construction of a hydrogen hub in the Pilbara in Western Australia. The Pilbara Hydrogen Hub will be a major centre for clean hydrogen production and export, with the potential to become an international gateway to Australian-made green steel and iron. The construction of supporting infrastructure is set to begin during the course of 2024, with the hub expected to be operational by mid-2028. The Commonwealth Government’s contribution of $70m has been allocated from its Regional Hydrogen Hub program, with the Western Australian Government funding the remaining $70m. </p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"><strong><a href="https://aus01.safelinks.protection.outlook.com/?url=https://www.afr.com/companies/manufacturing/alcoa-in-3-3b-bid-for-australian-partner-alumina-20240226-p5f7ry&amp;data=05|02||133a68e342d9478da91808dc381db9b4|32cedabbc5f941b7bc32f5e7eb88e8ec|0|0|638446947571024856|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&amp;sdata=7mzZvaeuBRF3xvz3ny32M5KE9EMp3YXxOka5F2DXGTg=&amp;reserved=0" style="text-decoration: underline; color: #1f38da;">Alcoa in $3.3b bid for Australian partner Alumina</a></strong></p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"> American aluminium producer Alcoa, which has operations in Western Australia and Victoria, has proposed a $3.3 billion acquisition of its ASX-listed Australian partner Alumina. Alcoa has offered to exchange each share in Alumina for 0.02854 of its NYSE-listed stock under a proposal endorsed by Alumina's independent directors and its biggest shareholder. Aloca says such a merger will better enable it to grow its footprint in local bauxite mining and alumina refining.</p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"><strong><a href="https://www.reuters.com/markets/commodities/gold-miner-newmont-plans-divest-six-mines-2024-02-22/" style="text-decoration: underline; color: #1f38da;">Newmont plans to divest non-core assets, including two WA mines</a></strong></p><p style="margin:0;mso-line-height-alt:16.8px"><br> Following its recent acquisition of Newcrest in November 2023, Newmont has announced plans to divest six non-core gold mines and two projects, including the Telfer Mine in WA, and a 70% stake in the Havieron Project 45km east of Telfer. Newmont aims to realize over $2 billion in cash from portfolio optimisation and will focus on growing its tier-1 assets as part of its transformation strategy. Despite a net loss of $2.5 billion in the 2023 full-year report, Newmont aims to reduce near-term debt by $1 billion in 2024 and achieve $500 million in cost and productivity improvements. </p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"><strong><a href="https://www.reuters.com/markets/commodities/australias-south32-sells-flagship-illawarra-project-165-bln-2024-02-28/" style="text-decoration: underline; color: #1f38da;">South32 to divest Illawarra metallurgical coal business in $2bn sale</a></strong></p><p style="margin:0;mso-line-height-alt:16.8px"><br> Australia's South32 Ltd has agreed to sell its Illawarra metallurgical coal business for US$1.65 billion, signalling the company's exit from coal to concentrate on copper and zinc expansion. The deal involves a $1.05 billion upfront cash payment and a deferred cash consideration of $250 million payable in 2030. South32's shares rose as much as 5.3% in response to the announcement. The deal is expected to complete in the first half of fiscal 2025, subject to certain conditions, including approval from key supplier, Bluescope, and FIRB review. </p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"><strong><a href="https://aus01.safelinks.protection.outlook.com/?url=https://www.wa.gov.au/government/media-statements/Cook-Labor-Government/Cook-Government-acting-to-protect-WA-nickel-industry-jobs-20240217&amp;data=05|02||133a68e342d9478da91808dc381db9b4|32cedabbc5f941b7bc32f5e7eb88e8ec|0|0|638446947571039136|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&amp;sdata=IiOOJYlx2KPInKRFMBXoqlTspL13g6Nv4XzshfvF4QQ=&amp;reserved=0" style="text-decoration: underline; color: #1f38da;">WA Government acts to protect nickel industry jobs</a> </strong>through royalty relief</p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:16.8px"> The WA Government will offer royalty relief to nickel producers in Western Australia under the Nickel Financial Assistance Program in an attempt to support the 10,000 jobs in the nickel industry. The program will deliver a 50 per cent royalty rebate for 18-months where prices are below $US20,000 per tonne for any given quarter, repayable over 24-months. The program will take effect from Q2 2024. As at the date of this newsletter, nickel prices are approximately $US17,000 per tonne.</p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p></div></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-9" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="divider_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:11px solid #da1f33"><span> </span></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-10" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="paragraph_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad"><div style="color:#555;direction:ltr;font-family:Open Sans,Helvetica,Arial,sans-serif;font-size:14px;font-weight:400;letter-spacing:0;line-height:120%;text-align:left;mso-line-height-alt:16.8px"><p style="margin:0"><strong>UPCOMING EVENTS</strong></p></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-11" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td> <table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="33.333333333333336%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="image_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad" style="width:100%;padding-right:0;padding-left:0"><div class="alignment" align="left" style="line-height:10px"><div style="max-width:226.667px"><a href="https://erlaw.org.au/Events/Event/SelectedEventId/198" target="_blank" style="outline:none" tabindex="-1"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/4e7afdff-1e8e-40e3-a7e0-c49fc818f7d8/ampla-hdsGJdgsHHH/Hydrogen%20QLD%20%284%29.png" style="display:block;height:auto;border:0;width:100%" width="226.667"></a></div></div></td></tr></tbody></table></td><td class="column column-2" width="66.66666666666667%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad"><div style="font-family:sans-serif"><div class="" style="font-size:12px;font-family:Open Sans,Helvetica,Arial,sans-serif;mso-line-height-alt:14.399999999999999px;color:#555;line-height:1.2"><p style="margin:0;mso-line-height-alt:14.399999999999999px">Brisbane – In-person</p><p style="margin:0;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;font-size:12px;mso-line-height-alt:14.399999999999999px"> <a href="https://erlaw.org.au/Events/Event/SelectedEventId/198" style="text-decoration: underline; color: #da1f33;"><strong>FACILITATING HYDROGEN PROJECTS IN QUEENSLAND</strong></a></p><p style="margin:0;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;mso-line-height-alt:14.399999999999999px"> <em>An update on the Queensland Government’s review of the regulatory framework for the Queensland hydrogen industry and panel discussion exploring the opportunities and challenges for commercial scale hydrogen projects in Queensland.</em><em> </em></p><p style="margin:0;mso-line-height-alt:14.399999999999999px"><em>&nbsp;</em></p><p style="margin:0;mso-line-height-alt:14.399999999999999px">A light lunch will be provided.</p><p style="margin:0;mso-line-height-alt:14.399999999999999px">&nbsp;</p> <p style="margin:0;font-size:12px;mso-line-height-alt:14.399999999999999px"><strong>Date: </strong>Wednesday, 13 March</p><p style="margin:0;mso-line-height-alt:14.399999999999999px"><strong>Time:&nbsp;</strong>1.00-2.00pm (AEST).</p><p style="margin:0;mso-line-height-alt:14.399999999999999px"><strong>Where:&nbsp; </strong>Herbert Smith Freehills, Level 31, 480 Queen Street, Brisbane</p><p style="margin:0;mso-line-height-alt:14.399999999999999px"> <strong>Registration: </strong>Young Professional:<strong>&nbsp;</strong>$20&nbsp;<strong>&nbsp;|&nbsp;</strong>Member:&nbsp;$40&nbsp;<strong>|&nbsp;</strong>&nbsp;Non-member:&nbsp;$75&nbsp;&nbsp;|&nbsp;Herbert Smith Freehills:&nbsp;$free&nbsp;</p><p style="margin:0;font-size:12px;mso-line-height-alt:14.399999999999999px"><strong>CPD points:&nbsp;</strong>1 point Substantive Law&nbsp;</p></div></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-12" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="33.333333333333336%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="image_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad" style="width:100%;padding-right:0;padding-left:0"><div class="alignment" align="left" style="line-height:10px"><div style="max-width:226.667px"><a href="https://erlaw.org.au/Events/Event/SelectedEventId/204" target="_blank" style="outline:none" tabindex="-1"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/4e7afdff-1e8e-40e3-a7e0-c49fc818f7d8/ampla-hdsGJdgsHHH/_WA%20PNI%20Flyer.png" style="display:block;height:auto;border:0;width:100%" width="226.667"></a></div></div></td></tr></tbody></table></td><td class="column column-2" width="66.66666666666667%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad"><div style="font-family:sans-serif"><div class="" style="font-size:12px;font-family:Open Sans,Helvetica,Arial,sans-serif;mso-line-height-alt:14.399999999999999px;color:#555;line-height:1.2"><p style="margin:0;mso-line-height-alt:14.399999999999999px"><strong><a href="https://erlaw.org.au/Events/Event/SelectedEventId/204" style="text-decoration: underline; color: #da1f33;">PNI ENERGY &amp; MINING SPEED-NETWORKING EVENT</a></strong></p><p style="margin:0;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;mso-line-height-alt:14.399999999999999px">It’s back! ER Law will co-host at the upcoming Energy and Mining (Mining, Oil &amp; Gas and Renewable Energies) Collaboration Networking event -&nbsp;Sundowner and facilitated speed-networking.</p><p style="margin:0;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;mso-line-height-alt:14.399999999999999px"> With topics, trends and issues relevant to the many different groups in the region, the Professional Networking Institute (PNI) is partnering with other industry associations across the WA Resources (Mining, Oil &amp; Gas and Renewable&nbsp;Energy) industry.&nbsp;</p><p style="margin:0;mso-line-height-alt:14.399999999999999px">&nbsp;</p><p style="margin:0;mso-line-height-alt:14.399999999999999px">Location: The Claremont Hotel, 1 Bay View Terrace, Claremont</p><p style="margin:0;mso-line-height-alt:14.399999999999999px">Date/Time:&nbsp;Tuesday, 7 May from 5.30 pm to 9.30 pm (AWT)</p><p style="margin:0;mso-line-height-alt:14.399999999999999px">ER Law Member promo code: ERLAMEMBER access up to 20 tickets at $20 off the general admission price of $85 at only $65.</p><p style="margin:0;mso-line-height-alt:14.399999999999999px"><strong>&nbsp;</strong></p><p style="margin:0;mso-line-height-alt:14.399999999999999px"> Note that the Eventbrite link for ticket purchases is :<a href="https://aus01.safelinks.protection.outlook.com/?url=https://pnisuperevent2024.eventbrite.com.au/&amp;data=05|01|j.beca@erlaw.org.au|88f9f034b6ff41f035c908dbef201118|45e33f86a6d64f00ac43397e671ee00f|0|0|638366694944688775|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|1000|||&amp;sdata=gK2iAS2qemViu2unesdtMyPioyEMTyx+ZDc1J/5K8yY=&amp;reserved=0" style="text-decoration: underline; color: #da1f33;"><strong>https://PNISuperEvent2024.eventbrite.com.au</strong></a></p></div></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-13" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td> <table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="divider_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:11px solid #da1f33"><span> </span></td></tr></tbody></table></div></td></tr></tbody></table> <table class="text_block block-2" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad"><div style="font-family:Arial,sans-serif"><div class="" style="font-size:12px;font-family:'Open Sans','Helvetica Neue',Helvetica,Arial,sans-serif;mso-line-height-alt:14.399999999999999px;color:#555;line-height:1.2"><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><strong>&nbsp;</strong></p> <p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><span style="font-size:14px;"><strong><span style="">Coming in 2024:&nbsp;</span></strong></span></p><ul style="line-height:1.2;mso-line-height-alt:16.8px"><li> <span style="font-size:14px;">Critical minerals - developments globally and in Australia - Perth, 21 Feb&nbsp; <a href="Critical minerals - developments globally and in Australia" target="_blank" style="text-decoration: underline; color: #da1f33;" rel="noopener">more details here</a></span></li><li><span style="font-size:14px;">Contract Law Masterclasses &nbsp;- 2023 The Year in Review; Force Majeure &amp; Frustration;&nbsp; Liquidated Damages &amp; Penalties; Remedies for Breach; Dispute Resolution</span> </li><li><span style="font-size:14px;">Large scale infrastructure planning and investment: the NSW Ports case</span></li><li><span style="font-size:14px;">Ethics and the Role of In-house Legal</span></li><li><span style="font-size:14px;">Hydrogen - a panel discussion - Brisbane</span></li><li><span style="font-size:14px;">Energy &amp; Mining Speed-Networking Event - Perth</span></li><li><span style="font-size:14px;">Young Professionals Program – Opportunities for Metals</span></li><li> <span style="font-size:14px;">Streaming; Hydrogen Updates; Business Development – How to as a junior lawyer? </span></li><li><span style="font-size:14px;">Nuclear Power – Options?</span></li><li><span style="font-size:14px;">The Deloitte Series</span></li><li><span style="font-size:14px;">WA Branch Conference - Perth</span></li><li><span style="font-size:14px;">2024 Annual Conference – 16-18 October, Brisbane</span></li><li> <span style="font-size:14px;">Education, client engagement &amp; lunch - Brisbane</span></li></ul><p style="margin:0;font-size:14px;mso-line-height-alt:16.8px"><span style="font-size:14px;"><em>For a preview of ER Law’s 2024 events offering, view the events calendar </em><a href="https://erlaw.org.au/Events" style="text-decoration: underline; color: #da1f33;"><em>here</em></a></span></p></div></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-14" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="divider_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #bbb"><span> </span></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-15" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-radius:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="paragraph_block block-1" width="100%" border="0" cellpadding="10" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad"><div style="color:#000;direction:ltr;font-family:Open Sans,Helvetica,Arial,sans-serif;font-size:14px;font-weight:400;letter-spacing:0;line-height:120%;text-align:left;mso-line-height-alt:16.8px"><p style="margin:0"> For more events, please see the ER Law website <a href="https://erlaw.org.au/" target="_blank" rel="noopener" style="text-decoration: underline; color: #0068a5;">here</a></p></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-16" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="divider_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad" style="padding-bottom:10px;padding-top:10px"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:4px solid #da1f33"><span> </span></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table> </td></tr></tbody></table><table class="row row-17" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="text_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word"><tbody><tr><td class="pad" style="padding-bottom:10px;padding-left:10px;padding-right:10px"><div style="font-family:Arial,sans-serif"><div class="" style="font-size:14px;font-family:Open Sans,Helvetica Neue,Helvetica,Arial,sans-serif;mso-line-height-alt:16.8px;color:#555;line-height:1.2"><p style="margin:0;font-size:13px;mso-line-height-alt:15.6px"><span style="font-size:14px;"><strong>YOUR SAY</strong></span></p><p style="margin:0;font-size:13px;mso-line-height-alt:16.8px">&nbsp;</p><p style="margin:0;mso-line-height-alt:15.6px"> Feedback, comments or questions? Get in touch and connect with us at <a href="mailto:erlaw@erlaw.org.au" style="text-decoration: underline; color: #1f38da;">erlaw@erlaw.org.au</a> or via <a href="https://www.linkedin.com/company/erlawyp/" style="text-decoration: underline; color: #1f38da;">LinkedIn</a>.</p><p style="margin:0;mso-line-height-alt:16.8px">&nbsp;</p></div></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-18" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table class="row-content stack" align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;color:#000;width:680px;margin:0 auto" width="680"><tbody><tr><td class="column column-1" width="100%" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-top:5px;vertical-align:top;border-top:0;border-right:0;border-bottom:0;border-left:0"><table class="divider_block block-1" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="pad" style="padding-bottom:10px;padding-top:10px"><div class="alignment" align="center"><table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td class="divider_inner" style="font-size:1px;line-height:1px;border-top:4px solid #da1f33"><span> </span></td></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><table class="row row-19" align="center" width="100%" border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0"><tbody><tr><td><table 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4 February, 2024

Issue 1 - 2024 - February 2024

ER Law Young Professionals Committee 2024

Welcome to 2024! The ER Law YPC is thrilled that The Source newsletter is now in its third year of publication. We look forward to continuing to provide monthly updates and insights for all things ER Law.

Jaya Prasad Shalini Uthayakumaran Regina Yap Louis Re-Matthews

New Hope Group Hive Legal Allens Baker McKenzie

QLD Vic WA NSW

President Secretary

Thomas Smith Phillippa Robinson Ben Gallagher Geraldine Gazali Dominic Surace

Cooper Energy KWM Allens Allen & Overy JWS

SA Singapore WA WA Vic

2024 Membership Renewals are underway. Renew your ER Law Membership for Exciting Benefits in 2024 - Plus, Discover Our New Website!

2023 NATIONAL ESSAY PRIZE – WINNERS ANNOUNCED SOON!

After receiving a record number of submissions for the 2023 The Energy & Resources Law Association National Essay Prize, we are pleased to announce that winners for the Prize will be announced soon.

Prizes for outstanding essays include cash and complimentary membership of ER Law, and the winning essay will be considered for publication in the Australian Resources and Energy Law Journal and the writer may be invited to present the paper at the Energy & Resources Law Association Annual Conference or (if applicable) their local State Conference

Many thanks and good luck to all submissions.

IN THE KNOW

Legislative and policy updates

Bill to introduce mandatory climate-related reporting in Australia

On 12 January 2024 the Australian Government released a draft bill to facilitate the mandatory climate-related financial disclosure reporting requirements under Standards proposed by AASB in October 2023. The bill aims to establish a regime requiring certain entities to report and maintain records on climate-related matters. Applicable entities will need to submit an annual report including climate statements for the year and a directors' declaration of compliance with international sustainability reporting standards. Climate statements may include an entity's climate-related governance policies, greenhouse gas emissions, climate change metrics, targets and strategies and any material climate risks or opportunities for that year.

If passed, reporting obligations will be imposed on applicable entities in three phases, with certain large entities needing to commence mandatory reporting for the first financial period commencing as early as 1 July 2024. Consultation is open until 9 February 2024.

Commonwealth Government consulting on improvements to the offshore environmental regime

The Department of Industry, Science and Resources is undertaking a review of the legislative and policy framework which regulates the environmental impacts and risks of offshore petroleum and greenhouse gas storage activities. A key aim of the consultation is to clarify and resolve the consultation requirements for undertaking these activities. Consultation is open until 23 February 2024 and the department is encouraging feedback from anyone with an interest in offshore petroleum or greenhouse gas storage activities.

Federal Government releases Australian Critical Minerals Prospectus

The Federal Government has released the Australian Critical Minerals Prospectus (Prospectus) which details 52 investment-ready critical minerals projects. The Prospectus showcases projects from the new Critical Minerals List as well as Australia’s capability to meet rising global demand in critical minerals whilst building supply chain security. This Prospectus forms part of a wider Federal Government push to increase investment in critical minerals, which has also included a A$2 billion expansion of the Critical Minerals Facility (Facility) (bringing the total financing available under the Facility to A$4 billion), an update to the Critical Minerals List, and the introduction of a new Strategic Materials List. A copy of the Prospectus can be found here.

$22 million awarded to three critical mineral and rare earth research projects

The Commonwealth Government has awarded $22 million through the Australian Critical Mineral Research and Development Hub to three successful projects. The aim of the funding is to further develop the critical mineral and rare earth production and the processing of these materials to produce components for clean technologies.

The three successful projects were:

$13.9 million for the Australian Nuclear Science and Technology Organisation (ANSTO) for a research project to accelerate the discovery, extraction and processing of rare earth elements from lower grade deposits

$5.2 million to CSIRO to develop intellectual property and know-how to help downstream industries produce high-purity metals and materials. This will extend value chains for lithium and rare earths and add value to tungsten ores and refractory metals

$2.7 million to Geoscience Australia to investigate the feasibility of a domestic industry for critical minerals such as gallium, germanium and indium. These are often by-products of processing commodities such as bauxite and zinc

ON THE CASE

Litigation and disputes updates

Federal Minister blocks offshore wind-related project on environmental grounds

A proposal by the Victorian Government-owned Port of Hastings to establish a renewable energy hub at the port for the assembly of offshore wind turbine components has been rejected by the Federal environment minister, Tanya Plibersek. The grounds for rejection were based on the unacceptable impacts of the project on internationally significant wetlands in the area. The Victorian Government said it would review the decision and propose mitigations that it was confident would see the project approved.

Albemarle Corporation to pay over US$103 million to settle alleged FCPA violations

On 28 September 2023, the U.S. Securities and Exchange Commission announced that Albemarle Corporation had agreed to pay over US$103.6 million to settle charges that it violated the anti-bribery, recordkeeping, and internal accounting controls provisions of the Foreign Corrupt Practices Act. According to SEC documents, Albemarle used agents from at least 2009 to 2017 to pay paid bribes to oil refineries in Vietnam, India, and Indonesia. Albemarle consented to the SEC’s Order, which found that Albemarle failed to maintain a sufficient system of internal accounting controls to provide reasonable assurances that payments were for legitimate services.

HEADLINES

Projects, deals and industry news

Rio Tinto to drive development of Australia’s largest solar farm at Gladstone

Rio Tinto has agreed to buy all electricity from the 1.1GW Upper Calliope Solar Farm (Solar Farm) located in the Gladstone Region in Queensland, Australia. The Solar Farm, which will be built and operated by European Energy, is expected to be fully operational by 2025/2026 and, when complete, will provide enough electricity to meet about 5% of Queensland’s current demand. Under the agreement with European Energy, Rio Tinto will purchase all power generated from the Solar Farm for 25 years to assist in powering its three production assets in the Gladstone Region: the Boyne aluminum smelter, the Yarwun alumina refinery, and the Queensland Alumina refinery.

Woodside and Santos merger talks continue

In December 2023, Woodside Energy and Santos confirmed preliminary discussion was underway to for a merger to create an A$80 billion oil and gas goliath with assets across Australia, Alaska, the Gulf of Mexico, Papua New Guinea, Africa and Latin America. Progress slowed with Santos stakeholders rejecting a low-premium deal but Woodside has advised deal talks will continue with higher production forecasts and revenues rising.

Federal Government announces a renewable hydrogen hub for Townsville, North Queensland

The Federal Government has announced that it is investing up to $70 million to develop the Townsville Region Hydrogen Hub (Hub) in North Queensland, Australia. The construction and operation of the Hub will be led by Edify Energy and is expected to be fully operational by 2027. The Hub will ultimately produce around 3,000 tonnes of green hydrogen per year for domestic supply and in excess of 150,000 tonnes for export.

Blackrock to acquire GIP for over USD 12.5bn

On 12 January 2024, BlackRock, Inc. and Global Infrastructure Partners (GIP) jointly announced that they entered into an agreement for BlackRock to acquire GIP for a total consideration of USD 12.5 bn (approximately AUD 18.7 bn). The consideration will comprise approximately $3 bn in cash and 12 million BlackRock shares. The transaction creates a market-leading, multi-asset class infrastructure investing platform and will put asset management giant BlackRock at the heart of investing in ports, power and digital infrastructure projects around the globe, including Australia.

Alcoa to shut down Kwinana refinery

Alcoa will end production of alumina at its Kwinana refinery by September 2024 after 60 years of operation. The Kwinana refinery suffered a loss of about AUD$193 million in 2023 and Alcoa has cited market pressure and production costs as the reason behind the closure. Alcoa will continue to produce alumina at its other WA refineries in Pinjarra and Wagerup. The closure of the Kwinana refinery has been forecast to free up 5 per cent of WA's gas consumption.

Large lithium producer reducing production in unexpected market drop

The Greenbushes Lithium Operation, largely known as Australia’s most successful lithium mine, owned in a partnership between IGO and Tianqi, is anticipating a fall in production owing to current weakness in the lithium market and lower than expected demand for EV reducing the need to restock reserves. In response to the market changes, the joint venture partners will stockpile lithium rich spodumene for future sales.

Woodside and Esso ink gas deals for east coast market

The Federal Government has finalised new gas supply deals for the Australian east coast energy market. Under the enforceable supply commitments, Esso and Woodside will supply more than 260PJ of gas between now and 2033 under the Federal Government’s Gas Code of Conduct exemptions framework. In addition to the commitments made by Senex and APLNG, which were announced in November 2023, these two new supply commitments bring the total volume of gas secured through the Gas Mark Code to 564PJs.

UPCOMING EVENTS

Coming in 2024:

Critical minerals - developments globally and in Australia - Perth, 21 Feb more details here
Contract Law Masterclasses - 2023 The Year in Review; Force Majeure & Frustration; Liquidated Damages & Penalties; Remedies for Breach; Dispute Resolution
Large scale infrastructure planning and investment: the NSW Ports case
Ethics and the Role of In-house Legal
Hydrogen - a panel discussion - Brisbane
Energy & Mining Speed-Networking Event - Perth
Young Professionals Program – Opportunities for Metals
Streaming; Hydrogen Updates; Business Development – How to as a junior lawyer?
Nuclear Power – Options?
The Deloitte Series
WA Branch Conference - Perth
2024 Annual Conference – 16-18 October, Brisbane
Education, client engagement & lunch - Brisbane

For a preview of ER Law’s 2024 events offering, view the events calendar here

AUSTRALIAN RESOURCES & ENERGY LAW JOURNAL – Contributions invited

We are inviting contributions for the Australian Resources and Energy Law Journal (ARELJ). Short ‘recent developments’ notes up to 3,000 words* and describe a recent policy, legislative or case law development are requested. More information about the ARELJ including form requirements are available here.**

If you or anyone you know is interested in contributing, please email the ARELJ editor at editor@erlaw.org.au to confirm that your chosen topic is still available. Once confirmed, please submit your article to the ARELJ editor at the same email address.

*As always, contributions of longer articles of up to 10,000 words are also being sought by the Editor of the ARELJ.

**Exceptional contributions to the ARELJ may be invited to be presented at the 2024 ER Law Annual Conference in Brisbane. If invited, ER Law will cover the costs of your attendance at the Annual Conference (including flights, accommodation and a single day ticket for the day that the author is presenting) If the author is based outside of Brisbane, ER Law will cover the costs of your flights to and from the Annual Conference and accommodation.

For more events, please see the ER Law website here

YOUR SAY

Feedback, comments or questions? Get in touch and connect with us at erlaw@erlaw.org.au or via LinkedIn.

Energy and Resources Law Association

Young Professionals Committee

ER Law promotes technical excellence, education, innovation and collaboration in the law on energy, resources, renewables and commodities.

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Melbourne, 3000, Victoria
Australia

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