Live ASX News Today
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21st May 12:15 AM AEST
Sustainable Winegrowing Australia on the path of net zero
Image source: © Felipeafdesign | Megapixl.com
Australia’s national program for winemakers and grape growers, Sustainable Winegrowing Australia, has released the 2021 impact report on its official website. The impact report provides the details of the programme’s national data set on the sustainable practices that are implemented in wineries and vineyards across Australia. Worth mentioning here is that the report includes the annual data from 1 July 2020 to 30 June 2021.
Sustainable Winegrowing Australia’s impact reported that 87% of the vineyards had taken initiatives or actions to manage water efficiently and effectively. As a step towards achieving the goal of net-zero, all the members of the programme are reporting greenhouse gas emissions.
46% of vineyards of voluntary national sustainability programmes employ soil nutrient management, and 89% of wineries have taken some action to divert waste from the landfills. In addition to this, the impact report highlighted that 93% of wineries are involved in a minimum of one environmental and community initiative.
Wine Australia’s CEO, Martin Cole commented on the report:
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21st May 12:10 AM AEST
Australian Space Machines Company secures deal with SpaceX
Image source: © Rangizzz | Megapixl.com
Sydney-based start-up, Space Machines Company (SMC) shared that it has entered into a partnership with Elon Musk’s SpaceX. According to the media source, SpaceX will act as a launch partner and assist the company in sending its spacecraft into space next year. Optimus Orbital Transfer Vehicle is expected to ride to space in April 2023.
Optimus Orbital Transfer vehicle weighs around 270 Kg and is one of the biggest commercial spacecrafts that is manufactured in Australia. The 2023 mission will show the capabilities of the spacecraft to offer in-space logistics services. The mission reinforces the SMC’s strategy as a last-mile delivery services provider. In addition to this, the launch of spacecraft will demonstrate the company’s ability to move satellites.
Optimus took the first flight back in October 2021. It was a 35kg version of the spacecraft.
The new 270kg spacecraft is built with the aim to decommission, repair, refuel and maintain other spacecraft and satellites in space. The spacecraft will be integrated and assembled at the University of Technology Sydney’s Tech lab.
A media source highlighted that the growth of the space logistics infrastructure would ensure that Australian satellites and spacecraft are keeping up with the growing challenges in outer space.
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21st May 12:05 AM AEST
China imports more low-priced Russian crude oil
Source: © Lancemichaels | Megapixl.com
China has significantly increased the purchase of low-priced crude oil from Russia. The move comes a month later it has cut back on Russian supplies for fear of openly supporting Russia.
- As per the estimates made by Vortexa Analytics, China’s seaborne Russian oil imports will rise from 75,000bpd in Q1 2022 to 1.1Mbpd in May.
- The Western allies including the US, Britain, and other key oil buyers banned Russian oil imports, shortly after it invaded Ukraine. The significant decision comes as Western allies wanted to cut their financial support to Russia for its war against Ukraine.
- In support of Ukraine, Vitol and Trafigura, two of the world’s biggest commodity traders, phased out purchases from Russia’s biggest oil producer –
- The low price of Russia’s oil is nearly US$29 less per barrel relative to the level it traded before the invasion.
- In addition to this low-priced oil, China separately receives around 800,000 bpd of Russian oil through pipelines under government deals.
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21st May 12:00 AM AEST
Tianqi has delivered an initial batch of lithium from Kwinana
Image source: © 2022 Kalkine Media®
Tianqi Lithium Energy Australia has delivered the maiden batch of battery-grade lithium from its Kwinana plant, located in Western Australia.
- This signifies the first battery-grade lithium or lithium hydroxide monohydrate produced in commercial quantity in the region.
- The production of commercial-scale lithium is a significant milestone for Australian mining as the sector expands to meet the burgeoning demand for batteries, primarily used in electric vehicles.
- Tianqi Lithium Energy Australia is a JV between world-renowned lithium player, Tianqi Lithium Corporation and Australia’s IGO Limited (ASX:IGO).
- An onsite laboratory has verified the quality of battery-grade lithium that has been produced consistently from the Kwinana plant over several days.
- The further development in the ramp-up process of the plant is customer qualification, expected to be completed over the next four to eight months.
- The JV owns the first lithium hydroxide plant in Australia which is also the largest in the world to be built outside of China.