The world’s biggest iron ore miners are looking for novel ways of satisfying their customers and protecting market share in the $150 billion global industry.

The company will divest its New Caledonia operation, eyes Indonesia for expansion.

According to The Economist Intelligence Unit, global energy consumption from renewables will jump by 14% next year, yet not enough to solve a climate crisis.

The project, a 50:50 JV between Gold Road and Gold Fields is considered one of the largest gold discoveries in Western Australia in over a decade.

Under the proposed mining law amendments, Bougainville would take a 60% share in all projects and retain all mining licences, leaving a 40% share that investors can bid for.