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1) Rio Tinto, a diversified miner, is additionally investing just over a million dollars in the Australian-Japan Innovation Fund (AJIF) to foster research and collaboration between the two countries. This commitment was made at the Australia-Japan Annual Joint Business Conference in Melbourne. AJIF, formerly the Foundation for Australian- Japan Studies (FAJS), aims to enhance industry-academia-government partnerships in science, technology, and innovation. Rio Tinto has been the primary supporter of this initiative, bringing its total pledges to approximately $5 million. The latest funding will be used for grants in research areas relevant to business ties between the two countries, focusing on green steel, renewable energy systems, and automated infrastructure, with the aim of contributing to global decarbonization efforts.
2) A three-step approach involving stakeholder collaboration is recommended for governments when managing mining communities' transition to non-mining economies, according to Kamila Svobodova, a research fellow at the University of Gottingen. This approach includes early planning, local-based solutions, and targeted investments to support economic and workforce transformation. Svobodova emphasizes that building trust and relationships with communities through early discussions about the transition's future are crucial. By combining bottom-up and top-down approaches, governments can engage people at all levels, tailor solutions to the local context, and establish collaboration networks. Effective coordination of investments, including measures to support workers, can seed new industries, foster innovation, and improve urban services. Recognizing the challenges and time required for this transition is key to ensuring success, as neglecting mining communities could lead to social and economic instability, affecting national energy infrastructure.
Source: Stakeholder collaboration key to successful transition toward non-mining economies - MINING.COM
3) In August 2023, Peru's domestic mining and hydrocarbons sector experienced a notable 5.2% expansion compared to the same period in 2022. This growth was driven by a 4.6% increase in the domestic metallic mining subsector, primarily attributed to elevated production of copper (7.5%), zinc (6.8%), gold (8.3%), and iron ore (17.5%). However, this was partly offset by decreased production of silver (-4.1%) and molybdenum (-24.4%). Additionally, Peru's hydrocarbons subsector saw significant growth, with a 9.1% increase in August 2023, driven by increased production of natural gas liquids (23.7%) and natural gas (16%), although there was a decrease in crude oil production by 12.5%.